The Bahamas is a Giant Oil Province in The Making!
That is what BPC told investors in a 2011 presentation to get them to invest in the exploration project.
BPC begun negotiating with The Bahamas Government in 2005 and now has exclusive rights to oil exploration in The Bahamas. According to BPC’s website they intend to spend 56 Million dollars in the 2011/2012 fiscal year.
Apparently Oil exploration has been happening in The Bahamas for some years, deals have been negotiated and signed, without the knowledge of The Bahamian people.
Most Bahamians are adamant that oil exploration should not be allowed in The Bahamas, never realizing that 5 deep exploratory wells have already been drilled on land and in Bahamian waters!
Oil drilling in Bahamian waters could have long-lasting implications for our country, both positive and negative. I believe that it is important that we keep a keen eye on what is going on and ask questions.
My goal is for this page to become a resource for people wanting to learn more about whats going on with oil exploration in The Bahamas. So I will adding numerous articles over the weeks and months to come.