EDITOR, The Tribune.
If oil is found in the Bahamas by some of the oil companies that were given permits to search for oil in our deep water sea bed, and if the government were to approve the companies to pump this oil for export to their country and the rest of the world, I feel the government should adapt the Kuwait system whereby every citizen in the country receives through the government from the oil revenue $250,000 per year.
This is the only way the citizens of the Bahamas would benefit from the oil found in the Bahamas and get a fair share of the oil pie. This can be done! Kuwait is a model country where it is happening right now. The population of Kuwait is about the same as ours 350,000. If the oil companies do not agree to this, it would be of no benefit to the Bahamian people. If this is agreed to by the oil companies, there is one problem, illegal immigrants. This must be brought under control.
I see this as the best way to deal with the oil industry. We would have to change a lot of our policies. We would have to stop giving out citizenship because you would have to pay them from the monies earned from the oil revenue. This would change the whole Bahamas.
We should not be looking to the oil companies for a job because this is our natural resource. They are not giving us anything, this belongs to us, the Bahamian people.
We cannot afford to treat this like tourism where lots of money is spent with small impact on the Bahamian people. This oil industry could have a direct impact on the citizens of the Bahamas.
The amount paid to the Bahamian people does not have to be $250,000 it can be $100,000, there is no better way to deal with this.
JIM
Freeport,
Grand Bahama.
May, 2012.
Comments
spoitier 11 years, 10 months ago
Jim that sound good in theory but that will never happen. I think Bahamians may need a fair shake but that is to much giving and not working to earn it, I would say the company that is going to drill could always give a stock option to the citizens and jobs in the field that way Bahamians will work harder because they know increase is base upon how hard they work.
ctlockhart 11 years, 10 months ago
Jim,
You are a very sharp guy and I see that you did your research. There are other countries in the middle east that have Oil that each citizen gets a bigger yearly stipend. I wanted to bring up this same topic but i guess you beat me to the punch. I am happy that the DNA party was able to bring alot of the specifics about the oil drilling into the public's view. These types of deals that could have a negative affect on our environment or empower our country greatly should be totally transparent. Politicians try to keep topics like this in hind sight so that they could cut their shady deals and sign contracts that are not in the best interest of the Bahamian people. I believe that Bahamians need to be aware of the financial kickbacks that each citizen in Kuwait is receiving so that they can question the government when there is a deal being made and it is not in the interest of the Bahamian people. I believe alot of people would be surprised to find out how many of our politicians have already purchased stocks in BPC, when infact the average Bahamian cant purchase any.
Spoitier - I agree with you, we need to give the citizens an incentive to work because if not we will have a nation of lazy people and we are already headed in that direction. Hard work instills morals and responsibility. I believe the proceeds from the oil can provide this country with the infrastructure and technology that this country needs to propel us into the future, while at the same time creating a better state of the art educational system, specialized training, State of the art free Colleges for all Bahamians, high paying jobs because the Oil proceeds will allow the government to increase salaries, better roads/highways, Developed family Islands where we as the tax payers are the investors not foreigners. I could go on and on but the point is if we have a bunch of chiefs and no Indians who is going to do the work? Cheap labor from poor countries which would add to our immigration problem, i think not. I believe people need to work and earn a living and if not they should automatically be drafted into that national service program that Pindling suggested a long time ago. You see we need to always keep god in the forefront and always realize that he is our provider. If you give someone 100,000. a year alot of people will forget about god and look at the government or the oil as their provider.
spoitier 11 years, 10 months ago
Jim I'm not trying to call you out and I do agree that Bahamians should have some benefits from this deal if it is going to go, but reading some of your facts in terms of population of Kuwait make me wonder what research you did because Kuwait has a population of 2,646,314 according to the CIA world fact book which is a credible site at least to the extent of reporting an accurate population. Maybe you may be talking about another smaller Arab country because most of them are kingdoms which runs different from a democracy, in a kingdom the citizens are paid for being a citizen.
proudloudandfnm 11 years, 10 months ago
Man this is nuts! First off if everyone in the Bahamas got $250,000.00 a year, WHO IS GOING TO WORK FOR A LIVING? NO ONE. And please man, no one in Kuwait receives a quarter million a year from oil! That's just a fanatsy. Lobby for real things not fantasy...
concernedcitizen 11 years, 10 months ago
i don,t know the exact figures but 250,000 times 350,000 seems like an awful lot of money ,,no profit would be left for the oil company ,,what would be their incentive to drill...
spoitier 11 years, 10 months ago
The population of Kuwait is 2.6 million so his facts is wrong there.
MrMetro 11 years, 10 months ago
Ok Good day , Fellow Bahamians...
All that is being said , seems good on the surface, But Firstly how will all of this really affect us as Bahamians? Do we even know the short term and long term affects, what kind of studies are being drafted or has been done regards the Oil exploration and its affects on us as citizenry? What about our wild life and natural resources and what about oil spills and containment? " I should not have to remind of the oh so recent BP oil slick and spill, cleanup and its cost? I think more thought and consideration should be done at this time to safe guard us and the way of life for all of us.
SECONDLY look at the financial side of this is impacted by two things 1. Bahamian citizens equal opportunity share 2. Governance of market sharing of such Bahamian resources.
In the past if we've learned anything it should be, that any such undertaking should of been considered by all citizens and a committee for Energy and Resources be formed followed by a "Referendum" this should be considered as we move in a direction of this magnitude as a people. Much can be said but it was said by T. G. Lets move steady sun-ward, Forward, Upward and onward together, as Bahamians.
........More to Follow.......
Mr. Metro.
by MrMetro
http://thetribune.media.clients.ellin...">Oil Log reports... by MrMetro
Cemk 11 years, 10 months ago
Jim,I don't feel anyone should be given money for nothing even if it is our natural resource.What should happen is a definitive contract should be signed between the drilling company and the Bahamas ensuring jobs are given to Bahamians. This would be a completely new industry to us so we will not have persons skilled for this industries available work.Foreigners will have to work here but with Bahamians at their sides getting the needed training and certification to take control of all positions within a specific time frame.This way we all win.The oil company makes money,the Bahamas makes money and thousands of Bahamians are employed gaining new careers that will allow them to then work anywhere in the world in this field.The amount of jobs that would be created by drilling here would be massive,if the oil is a vast quantity there may be the need for multiple platforms each needing hundreds of workers,emergency and spill/cleanup workers adding hundreds more.Drilling in the Bahamas would be the best thing for the Bahamas right now.I see thousands of critical and great paying jobs coming out of this and thousands of Bahamians gaining professional training/certification.I know people are concerned about the environment but the oil companies have equipment for such accidents and with the BP spill the equipment is now better and responses to spills and accidents are quick and Professional.
I feel if monies are to be given to the citizens it should be in the form of a certain block of shares in the oil company only.
Ellis.
Ellis.
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