Britain in the Turks and Caicos: Is it about oil?

TCI Post: Are the British here to help us or themselves?

Then I asked myself, why now?  Why do the British want the oil now years after the oil discovery.  At first I thought it was because of British economy was doing so poorly that they wanted access to cash from the oil.  The timing makes sense because the British muscled in during the height of their economic crash, but then I read this, “The entire Caribbean Basin is sitting on one of the largest oil and natural gas reserves ever discovered, but they are deep, and are only now in 2010 proving accessible.”

This oil accessibility announcement came right after the British forced their way into Turks and Caicos.  It’s too much of a coincidence for this editor…

… from the TCI Post article Is Britain after the oil?

14 Comments

Filed under Barbados, Energy, Politics

14 responses to “Britain in the Turks and Caicos: Is it about oil?

  1. self interest

    Never discount self interest for a country’s action

    Now that Britain is clamping down everywhere scrambling for revenue the tax regimes and oil will take on greater meaning for country and consultants alike.

  2. TCI Lover

    No doubt the British are hiding their true agenda in the Turks and Caicos. How could we be so blind? The entire Caribbean community should be aware of this and take heed.

  3. Straight talk

    Conspiracy theories on BFP?

    Ban ’em.

  4. Harry

    It’s not about the oil. It’s about the total incompetence and head-to-toe corruption of the T&C government.

  5. nowhere to go

    “It’s about the total incompetence and head-to-toe corruption of the T&C government.”

    T & C is a British Overseas Protectorate, where do Barbadians go when they have the same situation?

  6. TCI Lover

    Nowhere to go: there’s corruption in every country to some degree. Even in the great US of A people allege corruption right down to Obama’s birth records. Corruption in TCI is worse off now with the British. They are bankrupting us to keep us silent whilst they rob us blind. This article says it all.

  7. Worthyone

    BP and British collapsing Caribbean government’s for oil? Ok. Sounds about right. They’ve done that for a lot less. Now what?

  8. Let's Be Sensible

    It has been almost 2 years with no corruption chargers brought against anyone in Turks and Caicos. The British will throw everything against the wall to see what sticks to justify their value in TCI. The oil angle is interesting but not very surprising. Look at The Falklands.

  9. J. Payne

    The only thing I could think of, is maybe the Turks and Caicos Islanders could circulate a petition and present it to the Secretary General of the United Nations asking for the United Nations to put pressure of the UK to restore representative government on the island. That’s what I would do if I was a TC’s Belonger.

  10. Green Monkey

    If the following Wikileak info about Saudi oil production is true, the world might be closer to “peak oil” (the onetime peak in world oil production) than has been let on, and if that is the case, it could be a motivating factor for the UK to try and get control of any oil that might be found in T&C waters. And if any further motivation might be needed, the UK’s own North Sea oil fields hit peak production in 1999 and have been in decline ever since so that in 2006 the UK switched from being a net oil exporter (very profitable), to being a net oil importer (very costly).

    WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices

    US diplomat convinced by Saudi expert that reserves of world’s biggest oil exporter have been overstated by nearly 40%

    The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.

    The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom’s crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.

    The revelation comes as the oil price has soared in recent weeks to more than $100 a barrel on global demand and tensions in the Middle East. Many analysts expect that the Saudis and their Opec cartel partners would pump more oil if rising prices threatened to choke off demand.

    However, Sadad al-Husseini, a geologist and former head of exploration at the Saudi oil monopoly Aramco, met the US consul general in Riyadh in November 2007 and told the US diplomat that Aramco’s 12.5m barrel-a-day capacity needed to keep a lid on prices could not be reached.

    According to the cables, which date between 2007-09, Husseini said Saudi Arabia might reach an output of 12m barrels a day in 10 years but before then – possibly as early as 2012 – global oil production would have hit its highest point. This crunch point is known as “peak oil”.

    Husseini said that at that point Aramco would not be able to stop the rise of global oil prices because the Saudi energy industry had overstated its recoverable reserves to spur foreign investment. He argued that Aramco had badly underestimated the time needed to bring new oil on tap.

    http://www.guardian.co.uk/world/the-us-embassy-cables

  11. Let's Be Sensible

    The UN has been involved but only makes findings, no action. Several delegates from Turks and Caicos went to New York to give testimony in a hearing about the conditions in Turks and Caicos. If you keep reading this article it talks about the conflict of interest that the UN has with the UK because they control a portion of the oil on the seabed floor. Very interesting stuff if you’re reading. Very scary stuff if you are living in the Turks and Caicos. The UK has been putting on a charade for a couple of years now in T&C.

  12. Green Monkey

    Shell report predicts peak oil now or soon, ponders ‘Depression 2.0′

    The industrial doomsday scenario put forward by peak oil theorists isn’t just for far flung voices on the Internet anymore.

    Peak oil is not a problem of Earth’s supplies: there’s plenty of oil in a variety of forms. The difficulty is in how much energy it takes to recover and process it. And if it hasn’t happened already, soon the demand for energy commodities will soar past existing production capacity and crash headlong into the brick wall of declining discoveries.

    The economic effects of this could be devastating to the human populations within industrialized societies, to say the least.

    That’s not just the line from Noam Chomsky, Michael Rupert (actually spelled Ruppert /GM) and Dmitry Orlov: the second largest company in the world, Shell International, a major player in the energy commodities industries, is saying it too.

    In a recent “Signals & Signposts” report by Shell, forecasting energy scenarios through 2050, the oil giant predicted a growing volatility in the price of oil and a coming period of “extraordinary opportunity or misery.”

    As the demand for oil buts up against actual production and remaining reserves, the climbing price of oil will cause the gross domestic product of all nations to decline, they predict.

    snip

    The bumpy peak

    Shell predicts in clear terms what journalist Michael Rupert (Ruppert) said in his recent film “Collapse”: more shocks to the industry loom ahead, which will lead to increased price volatility, producing rapid inflation and deflation on the consumer level.

    And if that phenomena hasn’t already begun, they add, it will be in full-boar by the end of this decade.

    http://www.rawstory.com/rs/2011/02/15/shell-report-predicts-peak-oil-now-or-soon-ponders-depression-2-0/

  13. Let's Be Sensible

    According to this article the UN is part of the problem because they own a part of the oil on the seabed. This is ominous indeed. The world has been in conflict for many years over oil. I think we need to call it “TurmOIL”. Just throwing in some humour. Please keep TCI in your thoughts.

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