Prime Minister Philip 'Brave' Davis.
By RASHAD ROLLE
Tribune Senior Reporter
PRIME Minister Philip Davis said he is “not minded” to allow oil drilling in The Bahamas and is completely opposed to oil exploitation in the country.
He was speaking to reporters after his delegation returned from the United Kingdom where the COP26 summit and other meetings were held.
He said: “I am not in any definitive position now to say, but as I speak having come from COP conference and having had conversations with world leaders, having had conversations with technical people, I am minded not to allow oil drilling and for certain at this time I am not prepared to move toward oil exploitation. Because you could still, cap and monetise; you could still and exploit. Exploitation is something that I’m not, with the world going the way it is, I will be going with the world.”
Asked if oil exploration in The Bahamas was raised as an issue during the summit, Mr Davis said: “There are no extant oil drilling leases going forward. The question of oil drilling did come up. There is an understanding that the elimination of fossil fuel completely may be a pipe dream and/or nothing that we will see in our lifetime, but is something that we all will be moving towards.
“So, you will hear them talk about alternative energy, but they don’t ever talk about what they call the net zero which is now the new term they are adopting to see where countries will get to net zero meaning elongating fossil fuel altogether, but no one is talking about it now, it can’t be done now, they see that 20, 30, 50 years into the future. So, for us we are reviewing the situation and we are moving towards monetizing our carbon credits so that at the end of the day that if we need new revenue streams to provide the services that our people need and I could get it from the monetisation of my carbon credits.”