Oil discovered in DR.

UASD never said that oil had been discovered. Most of the third party reports reported that the UASD preliminary report said that there was a 'possibility' that oil 'could' be found. There hasn't even been any exploration as far as I'm aware. Course 'possibility' becomes 'has been found' for Sosua News .
Estudio revela la posibilidad de que haya petróleo en Luperón - Hoy Digital

Periodico El Faro - Revela posibilidad haya petr?leo Luper?n

You have to set this alongside the proposal for a cement factory in Luperon - masses in local papers about who is in favour, who is against etc, the Deputy allegedly being offered a US$300,000 bribe to support it, that fact that subsequently a number of mining concessions came to light (territorial not maritime). Quite apart from the environmental & tourism concerns & investor concerns there is an awful lot of politics being played over this.
Master 106.9 F.M Desde Puerto Plata Republica Dominicana - Informe se opone a cementera, estiman que en Luper?n hay petr?leo

Read the info at the links to discover who commissioned the UASD study. Well now, surprise, surprise.

Stuff about negotiating with the UK Gov't over maritime exclusion rights might just be a trifle premature..........

Sorry - ran out of edit time - to read some of the arguments scroll down to readers' letters:
Piden al presidente no dar permiso para cementera en Luperón - Hoy Digital

What would this mean for the DR?

Here are a couple of points that I want to throw into the mix. I think this is an important issue worthy of discussion, considering that the consequences of higher and higher oil prices to the DRs' economy will have a serious ripple effect on its' economy.

1) What company will be commissioned to do the drilling?

2) Who will share in the profits?

3) Environmental impact on a country that counts sea and sand as a major contributor to its' tourism sector?

4) The question of territorial rights-who has the right to claim the oil? Is it just the DR or will other islands in the region claim rights to it as well?

5) How trustworthy are the initial press reports? Have any sponsored studies been initiated that are at all reliable?

I hope if the government find oil in the DR, it follows the examples of Norway. I don't want to see a new Saudi Arabia, Venezuela, Nigeria or Iran in the DR.

P.S. the Queen doesn't need money to fix the Palaces or castles, she charges 13.50 pound to go in Winsor Castle, and 12.50 pound for Buckingham Palace, and the lanes are long.

It worth it though, i recommeded :bunny:

Berzin said:

Here are a couple of points that I want to throw into the mix. I think this is an important issue worthy of discussion, considering that the consequences of higher and higher oil prices to the DRs' economy will have a serious ripple effect on its' economy. 1) What company will be commissioned to do the drilling?2) Who will share in the profits?3) Environmental impact on a country that counts sea and sand as a major contributor to its' tourism sector?4) The question of territorial rights-who has the right to claim the oil? Is it just the DR or will other islands in the region claim rights to it as well?5) How trustworthy are the initial press reports? Have any sponsored studies been initiated that are at all reliable?

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Did you read the links Lambada put up Berzin?? NO sponsored or detailed studies have been made in this location - it is all speculation made from a report which says there 'COULD' be oil there as the 'rock formations' are similar to areas where oil has been found!!So, the answer to question 5) 'Not very especially as per Sosua News & their misquotes'.

Grahame-The reason I posted those questions was in case there is more information out there not covered by the links.

Or are we to believe that there is only one point of information on every topic, especially one as important and potentially controversial as this one?

Berzin said:

Grahame-The reason I posted those questions was in case there is more information out there not covered by the links.?

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Trusting your response to be the real cause for the questions, perhaps the original post could have been better phrased then.

Berzin said:

1) What company will be commissioned to do the drilling?

Click to expand...

Don't know.

Berzin said:

2) Who will share in the profits?

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The oil itself (if it exist) will be owned by the Dominican government. The government will simply develop a partnership with a company, something along the lines of the company gets the oil out and splits the profit with the state. That's how most oil producing countries deal with much of their natural resources, including the U.S. Also, the DR government already has similar agreements with other companies exploiting other natural resources like the nickel mines near Bonao to use an example.

Berzin said:

3) Environmental impact on a country that counts sea and sand as a major contributor to its' tourism sector?

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Its only a problem if there is a spill. The possibility of that happening are slim, and even today when there are no commercial exploitation of oil within Dominican boundaries; oil spills have occurred like the one that occurred less than a year ago in Boca Chica. The government reacted quickly and quite efficiently on that one; so the Dominican government containing an environmental disaster is quite possible depending whose in power, of course.

Berzin said:

4) The question of territorial rights-who has the right to claim the oil? Is it just the DR or will other islands in the region claim rights to it as well?

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The borders of the country go well into the sea with a large swathe of the Caribbean Sea and Atlantic Ocean claimed by the DR. In fact, its not just land and water that is property of the Dominican government, it also owns the air above all those areas; hence airplanes must report to Santo Domingo whenever they fly into Dominican airspace.

No other country has a right to claim the resources found on property owned by the Dominican government, regardless if such property is land, air, or sea. To do so will be a violation of some international treaty and the country caught doing such can expect to see some sanctions by supranational entities like the UN or some other organization.

In fact, the Dominican government's right to claim any resource on its property is so strong that even if you were to go scuba diving off the DR coast, found a Spanish Galleon with gold and silver; half of the gold and silver automatically becomes property of the Dominican government. Failure to declare such findings is considered a criminal offense to the degree that if you leave the DR with such findings, foreign governments are obligated to deport you back to the DR to face criminal charges and a trial. And that's with little individuals who find nuggets of gold in rivers in the Central Mountain range or silver in one of the more than 500 Spanish galleon that are known to be off the coast of the DR.

Berzin said:

5) How trustworthy are the initial press reports? Have any sponsored studies been initiated that are at all reliable?

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Don't know, however this is not the first time oil has been discovered in the DR. An American company actually discovered oil near Azua in the early 1900s. The largest deposits were actually ruined when water gushed into the well; however there is oil on Hispaniola.

The question now is how much and where else on Dominican soil or water can new oil deposits be found?

-NALs

no oil will be drilled in DR, no money. period.
There is no solid evidence that a large quantity of oil of good quality even exists.
They knew about this oil myth for a long time now. Still not takers to drill it.
AZB

Berzin said:

The reason I put those questions out there was in case there is more information out there not covered by the links.

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Of course there is - loads more links if you want to do a search. And all the historical material about previous claims of a similar nature going back at least to the 1930's and maybe before (HB would know about this I'm sure). But the significant question IMHO is could there be any underlying reason why this report should surface now? And does it have anything to do with what else is going on in Luperon? Talking to the people of Luperon might help you get some answers to your questions as well.

Further useful research could be to look up Ozinga Aggregates also.

BushBaby, don't concern yourself about the editing/deleting. Berzin has done it to his own post as well..............just checking if we're all wide awake no doubt.:laugh::laugh:

Interesting article from 1981

Multinational Monitor, September 1981

27 years and Superior oil is nowhere to be found. Even under the favorable terms mentioned in the article, the company decided that it wasn't a financially feaseable venture, so the oil is still a figment of someone's imagination.

Is there oil in DR? Probably. The problem is that nobody can accurately tell how much, and it would take in the neighborhood of 80 Million USD just to find out.

For reference, here's a map of DR's Exclusive Economic Zone, ..

No mention of Luperon but mention of DR Government & a Norwegian company talking about possible exploration
CLAVE DIGITAL - TITULARES

Still a long way to any oil production. Wavefield Inseis ASA is doing offshore seismic, 2 and 3 dimensional mapping of the sub sea formations. This is usually followed by years of data processing and interpretation prior to exploration drilling and production. Take into account the entire oilindustry worldwide is maxing out it will be hard enough to find drilling rigs. US drilling contractors are moving rigs to the Middle East where rates are easily 150,000 USD a day for shallow water rigs, deep water drillships worldwide can be 500,000 USD a day. Expensive stuff.