In the comment section of the 2nd link I posted there is an elaborate and absolutely poetic explanation of the absolute shady, fraudulent, and typical 3rd world government behavior one would expect from the Government of Belize. Just remember folks, this country has a population under 500,000 and is pretty much governed by what in America would be a crooked city council. Here is the text of the comment.
As a Belize resident and oil investor I find it impossible to take Andre Cho’s comments seriously as he related them to Wave’s Morning Show on Wednesday January 27. either he is extremely naive or he’s protecting his position. The GOB has had an enormous return on its NON-INVESTMENT. Yes, that’s right, the GOB have never invested anything in the oil industry, and yet this is what they receive from it, on an ongoing basis: For your infomration Mr. Cho, the GOB part of the oil proceeds break down as follows: 7-1/2% Royalty – paid before expenses A 10% production share – also before expenses 40% of the net – after taxes 1-1/2% of net petroleum produced Plus other relevant sales and import taxes. Let’s not overlook the 10% working interest that kicks in when daily production achieves a certain amount – and BNE has been exceeding that daily amount for quite a while. And what about the duty you collect on all imported items related to the oil company. This all adds up to big chunk of change – much bigger than Andre Cho appears to be reporting or, according to him, to even know about. How is it that Andre Cho has not been able to get current revenue figures from Joe Waite of the Income Tax Department – this is one of the reasons why the shareholders and voters accuse GOB of lack of transparency and conspiracy? Apparently all audits are in place, so what’s the problem Mr. Cho and Mr. Waite. Andre Cho claims that the Never Delay oil field cannot begin to produce oil commercially until NEAC signs off on it. OK, so who is it who is holding up the progress. Who is on this committee? We know it is chaired by Martin Alegria – CEO Department of Environment but other names have not been disclosed, despite repeated attempts for this information. This lack of information has become such a serious issue that Candy Conzales, President of BELPO (Belize Environmental Law and Policy Organization) has been obliged to make a formal request under the Freedom of Information Act. You could short cut this request, by publishsing the names now. This ‘secret; committee has such far reaching powers and because they are making all sorts of decisions vital to Belize’s well being they should not only be under scrutiny but also accountable – so again, what’s taking so much time? When Andre Cho refers to an ‘apparent’ controversy that has sprung up, it just shows how out of touch he is with the oil industry and the growing dissatisfaction that has existed ever since Guru/Cult Lead Tony Quinn came on the scene – but he doesn’t mention the fact that the oil company is now under the ‘leadership’ of this Cult Leader and that the GOB appears comfortable with this working arrangment. This is the man who claims to have found the oil in Belize and, while we know that not to be true, GOB continues to work with this Guru/Cult Leader Quinn. And why not? It’s to their benefit one has to assume. You see, many government and other officials have been the recipients of special deals from the oil funds (now you can see what has happeded to the claimed shortfall!). It raises the question of how deeply Andre Cho is involved in this perceived scam – is it that which makes it difficult for him to be forthcoming (truthfully) to us voters, or are there other (non-transparent) reasons – we have to rely on the oil company to give the shareholders truthful information, but Andre Cho himself (his department) is not beholding to them for the facts. He knows the output, he knows where the GOB funds are going – the shareholders know that the GOB has received at least $100 million to date. Now let’s hear from Andre Cho or Joe Waite, as to where that money has all gone. Belizeans may be demonstrating in the streets about the oil company, but they’ve done better than the shareholders, who have received nothing for the risk they took in investing in the oil business. But as Belizeans we do nonetheless have questions – where has all that money gone – we certainly have not benefited from it. Tell us Mr. Cho and Mr. Waite, who has really been laughing all the way to the Bank? Belize Voter and Oil investor
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