Oil has fallen below $30 per barrel today and some smaller oil companies are going bankrupt or closing down. Fossil fuel usage is declining globally with the threat of global warming and the economic slow down in China. Most countries that rely on petrochemicals for revenue are in trouble (Venezuela, Brazil, Russia, Saudi Arabia etc.). Oil needs to be above $70 for offshore drilling to make economic sense.
But new Bahamian petrochemical legislation and sovereign wealth fund makes perfect sense for a country that puts foreign interest and last century industrial projects ahead of the best interest of the country. We can't control the leaks at Clifton so what if we have a major oil spill in the most beautiful waters in the world.
Like Baha Mar, oil will be another multi-decade disaster for our islands. But in 10 years, by that time the truth comes out, the current leadership will be retired and on fat pensions while our youth continue to suffer without jobs or hope.
Not to worry, once will drill for oil at a cost of $75 due to offshore rig cost and sell it to the market at $30 we will be rich. Also, once government gets 50% of the new Cable Bahamas cell license fees, we will be rich, only thing, globally cell phone rates are collapsing. Just got rid of my BTC phone as Sprint has free text and internet in the Bahamas and only 20 cents per minute to make calls to the Bahamas...do the math. But don't worry, we will get Baha Mar open with the Chinese who are rapidly cutting back, purging corruption and devaluing their currency. But don't worry, once we get the dorm open we will feed ourselves from Bamsi in Andros. But don't worry VAT will reduce our debt....but it just increased by $1 billion! But one minister just said that crime hasn't impacted foreign investment...but what about us poor black Bahamians who don't live behind a gate (I guess I don't count). Once NHI comes I will give up my $600 per month medical insurance, PGC ga take care a me. BEC gone to foreigner who ga mess it up just like Baha Mar, Freeport, Bimini, BTC etc. etc. I guess we ga need more for foreigners to fix what dey done break up.
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
observer2 says...
Can't wait to sign up and cancel my $600 a month private health insurance plan. The government is doing a great job.
On As NHI looms, doctors say: NO
Posted 18 January 2016, 12:32 p.m. Suggest removal
observer2 says...
Oil has fallen below $30 per barrel today and some smaller oil companies are going bankrupt or closing down. Fossil fuel usage is declining globally with the threat of global warming and the economic slow down in China. Most countries that rely on petrochemicals for revenue are in trouble (Venezuela, Brazil, Russia, Saudi Arabia etc.). Oil needs to be above $70 for offshore drilling to make economic sense.
But new Bahamian petrochemical legislation and sovereign wealth fund makes perfect sense for a country that puts foreign interest and last century industrial projects ahead of the best interest of the country. We can't control the leaks at Clifton so what if we have a major oil spill in the most beautiful waters in the world.
Like Baha Mar, oil will be another multi-decade disaster for our islands. But in 10 years, by that time the truth comes out, the current leadership will be retired and on fat pensions while our youth continue to suffer without jobs or hope.
http://www.bloomberg.com/news/articles/…
On Oil ‘majors’ in talks on Bahamas exploration
Posted 15 January 2016, 3:13 p.m. Suggest removal
observer2 says...
Not to worry, once will drill for oil at a cost of $75 due to offshore rig cost and sell it to the market at $30 we will be rich. Also, once government gets 50% of the new Cable Bahamas cell license fees, we will be rich, only thing, globally cell phone rates are collapsing. Just got rid of my BTC phone as Sprint has free text and internet in the Bahamas and only 20 cents per minute to make calls to the Bahamas...do the math. But don't worry, we will get Baha Mar open with the Chinese who are rapidly cutting back, purging corruption and devaluing their currency. But don't worry, once we get the dorm open we will feed ourselves from Bamsi in Andros. But don't worry VAT will reduce our debt....but it just increased by $1 billion! But one minister just said that crime hasn't impacted foreign investment...but what about us poor black Bahamians who don't live behind a gate (I guess I don't count). Once NHI comes I will give up my $600 per month medical insurance, PGC ga take care a me. BEC gone to foreigner who ga mess it up just like Baha Mar, Freeport, Bimini, BTC etc. etc. I guess we ga need more for foreigners to fix what dey done break up.
On ‘Perfect storm’ fear on Business Licence
Posted 14 January 2016, 4:50 p.m. Suggest removal
observer2 says...
Government getting ready to be 51% owner of Cable Bahamas' cell license.
On Central Bank urged: ‘Step in’ over BOB’s $100m loss
Posted 5 January 2016, 10:22 a.m. Suggest removal
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