RE: Another Article15 Nov 2019 08:49
When, and if, oil is discovered and flows in commercial quantities, The Bahamas could reap substantial benefits. Once BPC recovers its development costs and operating expenses, revenue from petroleum sales in the international markets (of unpredictable size, since dictated by world crude prices) will be split 50-50 between BPC and government, allowing accumulation of cash for a Sovereign Investment Fund, the same path that Norway has followed to become a prosperous nation since North Sea oil was discovered in the late 1960s.