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Santo Domingo.- The presidential hopeful of the minority FNP party on Monday proposed a national policy to urgently explore for oil, citing good reasons and important indications to do so without further delay.

Pelegrín Castillo warned that because of the lack of political will and adequate legislation, the answer to the question “do we have petroleum?” will never be known. “It’s normal to affirm that foreign interests oppose the exploration. I believe that the main problem isn’t abroad, but the lack of commitment with long term projects whose results aren’t immediately seen and which however demand organization, discipline and sustained effort here.”

The deputy for the National District said he’ll reintroduce his bill on oil exploration, which despite approval in the Chamber of Deputies in more than three occasions, has perished in the Senate.

He said the oil search concessions granted in 1989 haven’t met expectations, mostly from the lack of institutional will to enforce their terms and conditions. “In the Constitution we already consigned the objective of land and sea exploration as high national priority, what’s needed now is to approve a law for that field of high risk investment, since no important company will come to conduct serious work without a legal, fiscal and adequate institutional framework.”

The lawmaker added that also needed are improved conditions and an increase of basic information which makes the exploration activity attractive.

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COMMENTS
11 comment(s)
Written by: gmiller261, 7 Sep 2010 10:11 AM
From: United States

Dominican lawmakers do not have the intelligence to comprehend the implication of oil drilling. The only reason these pathologically corrupt morons are presenting this is their overriding entitlement mentality and greed.

The DR could do so much better being a leader in alternative energy, but their need for greed is overwhelming.

What a bunch of morons.
Written by: gmiller261, 7 Sep 2010 10:16 AM
From: United States


The "lack of political will " should be changed for your pathetic transparent corruption first.

I can easliy see the whole north coast covered in oil and not ONE tourist. But there would be thousands of new SUVs.

Grow up.


Written by: SunshineState This user is banned, 7 Sep 2010 11:30 AM
From: United States
Well lets just hope that they will call the Texas Gringos ,or the Brazilian Jungler to do the Drilling, Because if we lets one of these morons to Drill, they will sink the country.
Written by: Juansantodomingo, 7 Sep 2010 11:33 AM
From: Dominican Republic
Here we go again. One more small utterance from one more small political party in the Diminutive Republic.
Written by: anthonyC, 7 Sep 2010 12:32 PM
From: United States

Political posturing pure and simple. If there was significant Oil in the DR they would be drilling for it by now.
Written by: yowzerDR, 7 Sep 2010 3:03 PM
From: Dominican Republic
But there is gold in the mountains...
Written by: Atabey, 7 Sep 2010 5:47 PM
From: United States, NYC
AC,

I agree. It would be crazy to have knowledge of a promising field and not explore the possibilities. As for changing the institutional legal structure surrounding exploration, I'm all for modernizing and institutionalizing the standards. Companies are put-off by antiquated legal structures and poorly defined legal definitions.
Written by: PatDiamond, 7 Sep 2010 7:50 PM
From: Botswana, La reconnaissance est une lachete'
ATABEY
Here is something to think about

http://www.youtube.com/watch?v=QqIWqLylZj8
http://www.jamaicaobserver.com/bu....-3-billion-barrels-of-oil_7922092
Written by: ZonaDominicana, 8 Sep 2010 1:33 AM
From: United States, Orange County, California
The DR has greater resources which are its people. About investing in the population and provide them with adequate education. Educate our people in Economy, Technology, Computer Engineer, Finance, Medicine, and other fields that can help our country succeed. There are many countries without natural resources and they are successful because of their free economical system and high level of education of their people.
Written by: zooma, 8 Sep 2010 7:28 AM
From: United States

This situation suggests more of a government agenda about getting the permit fees and kick-backs for the exploration process, to bleed revenue from any wildcat operator foolish enough to set up camp to explore in Domincan territory for petroleum reserves of sufficient volume that are capable of being reached.
Written by: danny00, 8 Sep 2010 2:27 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
sure they want it... why not! other way for them to make big dollars oil or no oil...
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