Sam Duncombe
06-11-08, - 08:09 AM
So what about alternative energy don't they get? Looking for oil is harmful to the environment the seismic testing that is done to read the sea floor is very loud and drives away fish - maybe we can eat the oil instead. And if we do find oil how/who is going to process it?
Search is on for fossil fuel
By KRYSTEL ROLLE, Guardian Staff Reporter, krystel@nasguard.com
Efforts are underway to find fossil fuel in The Bahamas, according to Minister of State for Public Utilities Phenton Neymour.
During debate yesterday on the 2008/2009 Budget in the House of Assembly, he announced that work will begin on the oil exploration projects later this year.
"In regards to oil exploration, knowing the scale of our dependence on fossil fuel, it becomes a necessity to examine ways to become independent. Hence, efforts are underway to find our own domestic source of fossil fuel," said the junior minister.
He revealed that there are currently three companies that have licenses for oil exploration programs in The Bahamas, in the vicinity of Andros and the Great Bahama Bank.
Meantime, the government is encouraging increased use of energy saving devices, as oil prices continue to drive the cost of living to record-breaking heights.
The price of oil per barrel is now about $130. This has had a spiraling effect on food and energy costs.
In this regard, the government has sought to lessen the strain that the increased prices are placing on everyday Bahamians, by cutting taxes on energy efficient items. In the 2008-2009 Budget, customs duty on energy efficient home appliances (with ratings greater than 15.0) is being reduced from 35 percent to 15 percent, and duty on energy efficient windows (double glaze and/or vacuum sealed) will be reduced from 25 percent to 15 percent.
Fluorescent bulbs, green bags, solar batteries and solar converters will have import duties of 20 percent and 35 percent eliminated, and low flow shower heads will have import duty of 35 percent reduced to 15 percent.
Neymour added that consumers have to play their role and make use of these items.
He further noted that developing circumstances dictate that The Bahamas accelerates plans to create alternative energy sources due to the several realities including the increasing cost of energy, the high level of state involvement and because The Bahamas has no known readily exploitable sources of conventional fossil fuel reserves.
However, he said information indicates that The Bahamas possesses "abundant" resources of solar energy for water heating and generating electricity.
"We also have exploitable wind resources that can provide energy. These proven, renewable energy sources have been determined to be an option for The Bahamas at the utility scale. In that regard, the Bahamas Electricity Corporation has been mandated to undertake further research and development, with the aim of integrating the foresighted renewable energy options," he stated.
Search is on for fossil fuel
By KRYSTEL ROLLE, Guardian Staff Reporter, krystel@nasguard.com
Efforts are underway to find fossil fuel in The Bahamas, according to Minister of State for Public Utilities Phenton Neymour.
During debate yesterday on the 2008/2009 Budget in the House of Assembly, he announced that work will begin on the oil exploration projects later this year.
"In regards to oil exploration, knowing the scale of our dependence on fossil fuel, it becomes a necessity to examine ways to become independent. Hence, efforts are underway to find our own domestic source of fossil fuel," said the junior minister.
He revealed that there are currently three companies that have licenses for oil exploration programs in The Bahamas, in the vicinity of Andros and the Great Bahama Bank.
Meantime, the government is encouraging increased use of energy saving devices, as oil prices continue to drive the cost of living to record-breaking heights.
The price of oil per barrel is now about $130. This has had a spiraling effect on food and energy costs.
In this regard, the government has sought to lessen the strain that the increased prices are placing on everyday Bahamians, by cutting taxes on energy efficient items. In the 2008-2009 Budget, customs duty on energy efficient home appliances (with ratings greater than 15.0) is being reduced from 35 percent to 15 percent, and duty on energy efficient windows (double glaze and/or vacuum sealed) will be reduced from 25 percent to 15 percent.
Fluorescent bulbs, green bags, solar batteries and solar converters will have import duties of 20 percent and 35 percent eliminated, and low flow shower heads will have import duty of 35 percent reduced to 15 percent.
Neymour added that consumers have to play their role and make use of these items.
He further noted that developing circumstances dictate that The Bahamas accelerates plans to create alternative energy sources due to the several realities including the increasing cost of energy, the high level of state involvement and because The Bahamas has no known readily exploitable sources of conventional fossil fuel reserves.
However, he said information indicates that The Bahamas possesses "abundant" resources of solar energy for water heating and generating electricity.
"We also have exploitable wind resources that can provide energy. These proven, renewable energy sources have been determined to be an option for The Bahamas at the utility scale. In that regard, the Bahamas Electricity Corporation has been mandated to undertake further research and development, with the aim of integrating the foresighted renewable energy options," he stated.