Hon. Kenred M. A. Dorsett M.P.

Communication to Parliament

 Compendium Petroleum Bills

Thank You Mr. Speaker

MR. SPEAKER

Once again it is an honor for me to rise in this place on behalf of the people of Southern Shores. They are a wonderful, supportive group of people who I have come to know and cherish over the years. I thank them for their continued support and for affording me the opportunity to serve them and our beloved Bahamaland.

MR. SPEAKER

I have said this before in this place and I think it is worth repeating, “we cannot continue to trade on the triumphs of those who came before us, we must blaze new trails for

those who follow us.” In order for us to blaze new trails we must be prepared to change and to try new things to see what works and what doesn't. It would seem that politics has permeated our society so deeply that there are those who will speak against almost anything this administration attempts to do just to ensure that it does not come to fruition or that it is a failure. I believe in the freedoms that our forefathers fought for. I believe that every person is entitled to their opinion and their political persuasion. However, I also believe that the governance of this country is not a sprint but a journey, one in which the baton is passed from one generation to the next. If we are going to criticise, it should be constructive criticism meant to make our country stronger. It should not be based solely on our politics or totally baseless. This beautiful string of islands that make up the Commonwealth of The Bahamas is home to us all. We all, especially here in this place, must ensure that what we pass on to the next generation is something that we can be proud of. This coming July we will celebrate forty two years of independence, that is not a very long time. Yet, we compare ourselves daily to countries that have been sovereign nations for hundreds of years. We are a growing nation and sometimes with growth comes growing pains. This is normal. The Bahamian people can rest assured that this administration is working with the best interest of our country at the center of all our endeavours.

MR. SPEAKER

Today we address the reformation and transformation of the upstream petroleum sector with the second reading of a compendium of bills which will govern the Petroleum industry here in our country. The bills are the Petroleum Bill 2014 and the Sovereign Wealth Fund Bill 2014. These bills once enacted will serve to protect not only the environs of the country but will also protect the interest of the Bahamian people as it relates to the Petroleum industry in The Bahamas. They together with the following regulations:

• Petroleum Regulations;

• Sovereign Wealth Fund Regulations;

• Environment and Pollution Regulations;

• Health & Safety Regulations;

Will redefine the petroleum sector, creating a modern, well defined industry meeting the best in international standards and protocols...

Click to download the attached file(s):
• petroleum.XkOIBS.pdf

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