|
|
|
|
Last Updated: Feb 13, 2017 - 1:45:37 AM |
 Nassau, Bahamas - Remarks by Senator The Hon. Keith R. Bell, , Minister Of State in The Ministry Of National Security before The Honourable Senate on: The Petroleum Bill, 2015 3rd February, 2016
Madam President,
I rise today in the beginning of this New Year to lend my support to the passage of the Petroleum Bill, 2015.
As I have not had the previous ability, I beg your indulgence to first extend my best wishes for health, wealth and prosperity to the Bahamian people. In spite of our challenges, we are still a blessed people and I continue to believe that we have the skills, knowledge and resources to meet every challenge this nation faces.
I still believe this and I do not qualify this statement. Bahamians have the skills, knowledge and resources to meet every challenge this nation faces- and we must face and address our challenges.
Madam President, at our last meeting, this Honourable Chamber passed the National Honours Bill. In supporting that Bill, I noted the importance of recognising the contributions of noteworthy Bahamians to the national development. As members are aware, Her Majesty recognised a number of noteworthy Bahamians on January 1st conferring a number of awards to 26 noteworthy Bahamians.
Looking at the list, I see not just names, but stories. The lives of the honourees mirror that of our Country and reflect the significant changes which have occurred since the attainment of Majority Rule.
When I look at Sister Agatha Hunt, British Empire Medal recipient, I think of the decades spent in quiet prayer and in active service in the education of thousands of Bahamian students.
When I look at Hulan Hanna, Queen Police Medal Recipient with whom I worked on the Royal Bahamas Police Force, I think of the countless days and night he spent keeping the public safe.
When I look at a James Catalyn Order of the British Empire recipient, I believe we all think of the many, many shows, plays and performances at the Dundas Centre which he worked tirelessly to produce.
When we look at Anita Allen, we see a world class jurist who has been in the service of the government and judiciary almost her entire adult life culminating with the attainment of President of the Court of Appeal.
Charles Carter has served his Country in elected office and has been tireless in his efforts to promote, protect and preserve for future generations our music and culture.
Finally Madam President, and when I look at Franklyn Roosevelt Wilson, I see a man from humble origins ‘over the hill’ who transformed the perception of what a small group of individuals can accomplish by pooling their resources and working together to build big businesses.
By any measure, that would be enough but its only half of the story. Simultaneous to building one of the largest 100% Bahamian owned companies, Franklyn Wilson found time to serve his country and civic organisations in various capacities and to give without ceasing.
I am sure members would agree with me in commending you Madam President, for the role which you have undoubtedly played in shaping the man upon whom the country has bestowed such a high honour.
Madam President, the Petroleum Bill, 2015 is another significant piece of legislation from the Progressive Liberal Party aimed at modernising the laws governing the exploration and exploitation of any petroleum products within the jurisdiction of the Commonwealth of The Bahamas.
In looking at the history of Petroleum Legislation in the Bahamas, it is to be noted that a Petroleum Act was passed by the Bahamian Parliament in 1945 - some 70 years ago! At that time, explorers and companies were racing around the world to find and exploit oil resources.
Much has changed since that time and in 1971, the 1945 Act was repealed and replaced with the Act which remains in force.
Today’s Bill will further modernise the laws governing petroleum exploration and production in conformity with best practices.
Madam President, over the decades since the passage of the 1945 Act, from time to time there have been discussions on oil and the possibility that we may have oil in commercially viable quantities to change the fiscal position of the Government.
The laws of The Bahamas from 1945 have allowed for licenses to be granted for exploring (and if successful) producing petroleum by products. Over the decades a number of these licenses have been issued and fees collected.
To date, petroleum has not been found in commercially viable quantities although the companies involved in this area remain positive about the possibility of finding petroleum.
This Bill is forward-looking, as it strengthens the regulatory regime in line with best practices capable of supporting a world class petroleum industry. I support this legislation as I believe it is both progressive and in the interest of the Bahamian People.
I therefore give my full support to this Bill as we seek to further develop our beloved land.
May our God continue to bless our Commonwealth and its people.
Keith R. Bell
Senator
Minister of State in National Security
© Copyright 2016 by thebahamasweekly.com
Top of Page
|
|
|
|
