Both the Government and the Opposition miss the true problem with the fossil fuel industry. Neither the registered office of the investor, the police record of the CEO, fossil fuel regulation nor the sovereign fund are key issues.
The real issue is (1) how can you make money when the price of oil (WTI) is $35 a barrel and the price of offshore drilling is $65 per barrel. At the current rates neigher Venezuela nor Saudi Arabia can pump enough oil to fund their government deficits (2) Why are we as a Nation investing in last centuries global warming and polluting industry which has the real chance of distroy our crystal clear waters? (3) Oil is projected to stay between $35 and $60 per barrel far into the future with heavy competition from the US fracking industry.
Reminds me of Baha Mar, Bamsi, BoB, BEC (new foreigners coming in who don't have a clue what they are doing) etc. etc.
Petroleum legislation is what you get when you have a bunch of $28,000 per year politicians, towing political lines to pay for their supper.
China, a major source of investment for the Bahamas, is burning fossil fuels for energy and now their pollution levels are over 20 times above WTO recommended levels. I guess BEC will continue to burn diesel, alternative energy will take a back seat and solar will be discouraged so that BPC can sell dirty diesel to BEC, who cares about the leaks at Clifton?
das how dey does get rich off crown land, lease it to dey cronies, den lease it again to da foreigner or lend against it at the BoB. poor black peope gets nottin...but its dey land,
dey tell me we ga get some job in 2017, just like baha ma, 6,000 jobs comin...boy das good ehh, better vote des negros back in.
The article states "Air pollution can cause cancer, according to the World Health Organization. It also can trigger heart attacks in people with underlying heart disease, said John Groopman, a professor of environmental health sciences at the Johns Hopkins Bloomberg School of Public Health in Baltimore who has worked in China for 35 years.
Children are also at greater risk, because they spend more time playing outside and have smaller lungs, Lang said. Heavy pollution can permanently damage children's lungs, putting them at greater risk of lung disease as adults, said Janice Nolen of the American Lung Association. Officials in China urged Beijing schools to close to protect children from the unhealthy air."
...if da rich and famous dem gear a cancer like da rest of we livin on top a leaken Rubis oil tanks we government's dem may do sumtin for dem - ya know we needs da foreigners dem. lill trickle down to da poor wit NHI ta cover da cancer and gamlin diseases caused by we government.
...China dem gat da same problem so dey ain ga pay for it
The minute NHI legislation is passed in the House of Assembly and heath care salary deductions are started via NIB deductions, then all employers will immediately discontinue group health insurance plans as they become redundant on day one.
A derivative of this scenario occurred in the United States once Obama (Universal) Care was implemented.
In order to avoid paying Obama care and avoid health insurance all together most businesses (large and small) started to hire persons less than 40 hours per week. Employees working under 40 hours are then designated as non full time and the employer does not have to pay any benefits (including Obama Care).
The liability for healthcare then falls to the individual who is forced to purchase an individual Obama care plan through the state health care exchanges.
The result is that health care insurers are losing hundreds of millions of dollars per year. United Health Care, one of the largest health insurers in the United States, is exciting the Obama Care business because it is not profitable. See link below.
Under socialist model and the nanny state, which we are following, the insurance industry will be put out of business as the government will be administering health care.
Lol...dey mussy learn dis nonsense from dey Chinese masters.
The reason the government is pushing hard for NHI on January 1, 2016 is because the government is cash flow and reserve currency negative and its financial institutions are dysfunctional.
By increasing national insurance contributions to include NHI the government gets another stream of income.
My arguments are as follows:
1. Currently raising $25 million for the Public Health Authorities without attaching the Offer Memorandum to e mails. Government tapping local market for loans at rate of $20 million per month. Why isn't the Central Bank raising money for the government anymore...hmmm. Why is the Central Bank (which is independent from the Executive Branch of Government) virtually silent?...hmmm.
2. Bank of the Bahamas audit delayed. Rumours that further loan write offs in the multimillions are needed.
3. BEC needs $1 billion. $450 million in loans to be transferred from government guarantee and to be paid off by BEC customers. $600 million in loans needed to finance new generators. Coupled with foreign managers with no experience in power plant construction sounds alot like Baha Mar Saga Part II but this time the lights go off for all of us.
4. Government effectively shut out of international capital markets. Will not borrow US$ at this time (stay tuned).
5. Baha Mar collapse creates major loss of foreign currency income.
6. VAT essentially transferring cash from private to public sector but creates no net additions to GDP or reserves.
7. National debt grows from $5.6 billion to $6.3 billion in 18 months.
8. National insurance now cash flow negative.
9. The Opposition accountants need to create a forecasted balance sheet for the Countries finances and show the people why the present course is not sustainable.
10. The government is in self preservation mode and not looking out for the best interests of the people. A case in point is that gambling is still not fully regularized and there is a webshop on every corner in every poor neighborhood in the country. It is creating a large (and unaccounted for) population of Bahamian gambling addicts which will need to be treated by NHI...what is dis. As the political parties are supposedly finance by the webshops they government is powerless to stop it. Even a referendum by the people could not stop it.
If the insurance industry recognizes what NHI truly is and stops trying to make sense out of what the government is doing then it will recognize that fighting to government on this issue is useless.
It is time for them to hire a lawyer and litigate the issue using our constitutional basic rights. But don't expect to get a copy of the draft legislation until it is ready for debate and passing in the parliament. But be ready to challenge it in the courts the day after it is passed.
observer2 says...
Both the Government and the Opposition miss the true problem with the fossil fuel industry. Neither the registered office of the investor, the police record of the CEO, fossil fuel regulation nor the sovereign fund are key issues.
The real issue is (1) how can you make money when the price of oil (WTI) is $35 a barrel and the price of offshore drilling is $65 per barrel. At the current rates neigher Venezuela nor Saudi Arabia can pump enough oil to fund their government deficits (2) Why are we as a Nation investing in last centuries global warming and polluting industry which has the real chance of distroy our crystal clear waters? (3) Oil is projected to stay between $35 and $60 per barrel far into the future with heavy competition from the US fracking industry.
Reminds me of Baha Mar, Bamsi, BoB, BEC (new foreigners coming in who don't have a clue what they are doing) etc. etc.
Petroleum legislation is what you get when you have a bunch of $28,000 per year politicians, towing political lines to pay for their supper.
China, a major source of investment for the Bahamas, is burning fossil fuels for energy and now their pollution levels are over 20 times above WTO recommended levels. I guess BEC will continue to burn diesel, alternative energy will take a back seat and solar will be discouraged so that BPC can sell dirty diesel to BEC, who cares about the leaks at Clifton?
http://www.scmp.com/news/china/policies…
On Minnis says oil explorer 'known to swindle'
Posted 22 December 2015, 2 p.m. Suggest removal
observer2 says...
das how dey does get rich off crown land, lease it to dey cronies, den lease it again to da foreigner or lend against it at the BoB. poor black peope gets nottin...but its dey land,
dey tell me we ga get some job in 2017, just like baha ma, 6,000 jobs comin...boy das good ehh, better vote des negros back in.
On MSC deal to give Bahamian company ‘widest ever smile’
Posted 17 December 2015, 4:12 p.m. Suggest removal
observer2 says...
he gat 3 jobs and poor black bahamians ain gat none. plp fixin up da foreigners good good
On Pinder moves one year after ‘amazing’ deal
Posted 17 December 2015, 4:08 p.m. Suggest removal
observer2 says...
da cruise ships dem ain ga have to put up wit crime riddin nassau, dey gat dey own island for 100 years, tank goodness we gat nhi, gamblin and vat.
On Shipping company signs deal for $100m port
Posted 17 December 2015, 4:04 p.m. Suggest removal
observer2 says...
I tought we da foreigner dem running dat 2
On Major water main failure causes disruption to New Providence supply
Posted 17 December 2015, 4 p.m. Suggest removal
observer2 says...
China issues first-ever red alert on air pollution - December 7, 2015, USA Today Article
http://www.usatoday.com/story/news/2015…
The article states "Air pollution can cause cancer, according to the World Health Organization. It also can trigger heart attacks in people with underlying heart disease, said John Groopman, a professor of environmental health sciences at the Johns Hopkins Bloomberg School of Public Health in Baltimore who has worked in China for 35 years.
Children are also at greater risk, because they spend more time playing outside and have smaller lungs, Lang said. Heavy pollution can permanently damage children's lungs, putting them at greater risk of lung disease as adults, said Janice Nolen of the American Lung Association. Officials in China urged Beijing schools to close to protect children from the unhealthy air."
...if da rich and famous dem gear a cancer like da rest of we livin on top a leaken Rubis oil tanks we government's dem may do sumtin for dem - ya know we needs da foreigners dem. lill trickle down to da poor wit NHI ta cover da cancer and gamlin diseases caused by we government.
...China dem gat da same problem so dey ain ga pay for it
On New ‘economic loss’ lawsuit over BEC’s Clifton pollution
Posted 9 December 2015, 5:47 p.m. Suggest removal
observer2 says...
The minute NHI legislation is passed in the House of Assembly and heath care salary deductions are started via NIB deductions, then all employers will immediately discontinue group health insurance plans as they become redundant on day one.
A derivative of this scenario occurred in the United States once Obama (Universal) Care was implemented.
In order to avoid paying Obama care and avoid health insurance all together most businesses (large and small) started to hire persons less than 40 hours per week. Employees working under 40 hours are then designated as non full time and the employer does not have to pay any benefits (including Obama Care).
The liability for healthcare then falls to the individual who is forced to purchase an individual Obama care plan through the state health care exchanges.
The result is that health care insurers are losing hundreds of millions of dollars per year. United Health Care, one of the largest health insurers in the United States, is exciting the Obama Care business because it is not profitable. See link below.
http://www.hngn.com/articles/152202/201…
Under socialist model and the nanny state, which we are following, the insurance industry will be put out of business as the government will be administering health care.
Lol...dey mussy learn dis nonsense from dey Chinese masters.
On NHI risks ‘up to 1,000 jobs’
Posted 1 December 2015, 2:27 p.m. Suggest removal
observer2 says...
United Healthcare is the first Fortune 500 company to sound the alarm bells for Obama care. More to come.
http://www.bloomberg.com/news/articles/…
On Health Insurance industry ‘discussing NHI contingency plans’
Posted 1 December 2015, 12:51 p.m. Suggest removal
observer2 says...
The reason the government is pushing hard for NHI on January 1, 2016 is because the government is cash flow and reserve currency negative and its financial institutions are dysfunctional.
By increasing national insurance contributions to include NHI the government gets another stream of income.
My arguments are as follows:
1. Currently raising $25 million for the Public Health Authorities without attaching the Offer Memorandum to e mails. Government tapping local market for loans at rate of $20 million per month. Why isn't the Central Bank raising money for the government anymore...hmmm. Why is the Central Bank (which is independent from the Executive Branch of Government) virtually silent?...hmmm.
2. Bank of the Bahamas audit delayed. Rumours that further loan write offs in the multimillions are needed.
3. BEC needs $1 billion. $450 million in loans to be transferred from government guarantee and to be paid off by BEC customers. $600 million in loans needed to finance new generators. Coupled with foreign managers with no experience in power plant construction sounds alot like Baha Mar Saga Part II but this time the lights go off for all of us.
4. Government effectively shut out of international capital markets. Will not borrow US$ at this time (stay tuned).
5. Baha Mar collapse creates major loss of foreign currency income.
6. VAT essentially transferring cash from private to public sector but creates no net additions to GDP or reserves.
7. National debt grows from $5.6 billion to $6.3 billion in 18 months.
8. National insurance now cash flow negative.
9. The Opposition accountants need to create a forecasted balance sheet for the Countries finances and show the people why the present course is not sustainable.
10. The government is in self preservation mode and not looking out for the best interests of the people. A case in point is that gambling is still not fully regularized and there is a webshop on every corner in every poor neighborhood in the country. It is creating a large (and unaccounted for) population of Bahamian gambling addicts which will need to be treated by NHI...what is dis. As the political parties are supposedly finance by the webshops they government is powerless to stop it. Even a referendum by the people could not stop it.
If the insurance industry recognizes what NHI truly is and stops trying to make sense out of what the government is doing then it will recognize that fighting to government on this issue is useless.
It is time for them to hire a lawyer and litigate the issue using our constitutional basic rights. But don't expect to get a copy of the draft legislation until it is ready for debate and passing in the parliament. But be ready to challenge it in the courts the day after it is passed.
On ‘Distressing’ NHI threat to 60% of FamGuard revenue
Posted 1 December 2015, 6:54 a.m. Suggest removal
observer2 says...
"Public Hospital Authority to place an offering of $25 Million in Series B Amortizing Notes at a fixed rate of 6%."
I guess they need the NHI salary deductions to help pay off the hospital loans.
On Health Insurance industry ‘discussing NHI contingency plans’
Posted 30 November 2015, 3 p.m. Suggest removal