Editorial: Natural Resources

POSTED: 02/10/14 9:55 AM

The Saba Bank Resources NV is becoming active again with the appointment of two new members to its supervisory board, one of whom is a former Commissioner of Tourism, Julian Rollocks. If, and this is a rather big if, there is an exploration company that does find large deposits of oil to make it commercially viable to extract, then it’s important that the people of these islands –  Saba, Statia, and St. Maarten – reap the economic benefits of such a find, and not merely act as facilitators for multinational oil companies.

It’s understandable, of course, that incentive will have to be given to anyone, or group, who can afford to invest the kind of money, equipment, and technical expertise needed to find and drill for oil. But all stakeholders need to pay special attention to developments on the Saba Bank to ensure that the people of these islands benefit from their natural wealth, should any be found.

After all, we are not a charity case, and don’t exist simply for the sake of others.

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