Minister of Trade and Industry Leslie Miller says he remains optimistic that The Bahamas will sign onto the Petrocaribe agreement.
Speaking with The Bahama Journal recently, he said that last week’s meeting in Jamaica was an opportunity to give ministers, especially Bahamian Ministers Fred Mitchell and Bradley Roberts, an opportunity to learn more about Petrocaribe.
“I still believe that at the end of the day Petrocaribe would indeed be of great assistance to the people of The Bahamas,” Minister Miller said.
The Bahamas signed onto the framework agreement in Venezuela on the June 29.
But last week, representatives did not sign the final document to activate the agreement.
He said once all of his cabinet colleges are back in town from vacation the initiative is likely to be signed.
“I have full confidence, especially [since the] two ministers [were] present, and having all the questions answered that might have been a concern to the government and the people of the Bahamas, that we will sign on to it.” Minister Miller said.
The Minister said he is also optimistic about the establishment of a National Energy Corporation, which is a vital part of Petrocaribe.
He had promised that the corporation would be established by September, something he said can happen easily.
Minister Miller pointed out that one of the recommendations from the government-appointed fuel usage committee is that the NEC be formed as a company and not a corporation.
He said a company would be able to make decisions quicker.
“I guess it would be called The Bahamas National Energy Agency (NEA),” Minister Miller said, “a quasi government agency just as Bahamasair is.”
He added, “The Government of The Bahamas has no intention of going into the oil business under the NEA. We are only getting it at better prices to sell to the Bahamian people.
“The most important aspect of this Petrocaribe [agreement], in addition to what breaks we would get from Venezuela, is really cutting the margins. I’ve stated that for three years now, that the margins must be decreased.”
When he spoke at the Jamaica summit last week, Minister of Foreign Affairs Fred Mitchell said The Bahamas is studying the full parameters of the initiative and will “in due course” determine what steps it will take in this matter.
“The PetroCaribe Initiative is clearly part of the process of the sovereign nations of the region seeking to chart their own course,” he said.
“It is an extension of that new generation of leaders in the region bordered by the Caribbean sea that believes that we must all share in the resources of the region and we have a responsibility to protect them; that it is important for those who are blessed in one way to share that blessing with others, and that those who have must share with those who do not have.ﾠ
“This may be inexplicable to some, but the spirit of altruism and man’s obligation of humanity to other human beings must triumph over the spirit of personal and national gain to the exclusion and at the expense of other peoples and nations. ﾠ
The Bahamas is at one with that sentiment, both that of individual nation states charting their own courses given their individual geographies and histories as well as the spirit of humanity and generosity which has brought us all here.”
He said The Bahamas applauds the efforts of the government and people of Venezuela and President of Venezuela for “this gesture of humanity, and for the efforts to make a real attempt to lend a helping hand to those in the region who are less fortunate.”
By: Stephen Gay, The Bahama Journal
