Notes From The Margin

July 15, 2007

Location Location Location – Barbados and the Law of The Sea

Filed under: Barbados,Capitalism,Caribbean,Caricom,Law Of The Sea,Petroleum,United Nations — notesfromthemargin @ 3:38 am


Our friends over at Barbados Underground posted an interesting graphic showing the bid block that are now being auctioned off by the Government (UPDATE: The Search For Oil Beyond The Shores Of Barbados Has Started~Can Barbados Become The UAE Of The Caribbean?)

Because of Barbados’ position to the east of the rest of the island chain we control a relatively large amount of real estate under the sea. And what’s even more promising is the current discussions underway to extend the 200 mile limit (the green line) even further. While we are talking about oil today, there is no telling what may (or may not) be out there and when the technology will be developed to go after it.

While there are no guarantees of anything other than rock and clay out there, it does open all sorts of possibilities for the future. In the meantime, I hope they will wait for them to actually find some oil before we start spending the money.



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