Sunday, March 10, 2013

The Bahamas: Gov't to approve offshore oil exploration

Offshore oil exploration will be allowed off the Bahamas, the environmental minister said Sunday, adding that a voter referendum on whether to go forward with full production will be held only after it is determined whether the island chain has commercially viable reserves.

The exploratory drilling will not likely produce enough information to make a decision until late 2014 at the earliest and the referendum could be held the following year, Environmental Minister Kenred Dorsett

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