by Rick Lowe
I think far too much is being made of the objective to drill for oil. The argument is, if we have a spill it will ruin our reputation as a tourist resort etc.
I agree to an extent, but as the technology continually improves and the oil find is profitable, I would think the experts would take care of those things. Just look how many oil rigs there are in the Gulf of Mexico that go through major storms and how many catastrophes have there been? One in my lifetime?
Maybe those fears overblown?
Then there's the "green energy movement". Mr. Bill Clinton, former US president spoke at the recent Solar Power International Conference and reportedly said "There's too much money and advertising behind yesterday's energy". But is he correct?
I don't agree with him. We have a solar water heater for example and as these technologies improve maybe there will be other things we can install around the house that will be beneficial, but there's still a long way to go.
Maybe one day there will be a major shift to solar products, but that's after the technology improves and is more useful in our day to day lives. Much like fossil fuels are today.
US government subsidies equalling up to 30% of the cost of each solar system cannot be a winning strategy to my mind. Shouldn't the product be viable on its own?
In the final, solar systems might be part of the future of energy but the convenience of fossil fuel in our daily lives, it will be a long time or take some major inventions to displace oil.
The real concern for me with drilling for oil in The Bahamas is the "deal" and the benefit for the country. Come to think of it, that might be sufficient reason to oppose oil exploration here.
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Note: As I was drafting this post, Mr. Leslie Miller (PLP), BEC Chairman, urged the government to consider inviting a "more recognized oil conglomerate with a proven track records must be brought to the table to discuss any plans going forward".
That might not be such a bad idea either, but I'm still getting over the fact that Mr. Miller wanted The Bahamas to get in bed with Hugo Chavez of Venezuela with his loans for oil scheme. Oh he attempts to sell the "deal" as oil prices that don't fluctuate, but of course he simply neglects to talk about the other side of the ledger - The additional national debt that would be accumulating.
