Daily Archives: February 20, 2017

Johnny Depp is in ‘Pirates of the Caribbean: Dead Men Tell No Tales’, Apparently – Bloody Disgusting

Posted: February 20, 2017 at 7:39 pm

After all of the bad PR surrounding Johnny Depp, Disney removed him from allPirates of the Caribbean: Dead Men Tell No Tales promotional materials, at least until the Super Bowl.Now, after feeling like its safe to bring him out of hiding, theyve released a series of new posters centered around the famed pirate. Theyre absolutely awful by the way, looking like a Photoshop job by an inexperienced college student. Woof.

Johnny Depp returns to the big screen as the iconic, swashbuckling anti-hero Jack Sparrow in the all-new Pirates of the Caribbean: Dead Men Tell No Tales. The rip-roaring adventure finds down-on-his-luck Captain Jack feeling the winds of ill-fortune blowing strongly his way when deadly ghost sailors, led by the terrifying Captain Salazer (Javier Bardem), escape from the Devils Triangle bent on killing every pirate at sea notably Jack. Jacks only hope of survival lies in the legendary Trident of Poseidon, but to find it he must forge an uneasy alliance with Carina Smyth (Kaya Scodelario), a brilliant and beautiful astronomer, and Henry (Benton Thwaites), a headstrong young sailor in the Royal Navy. At the helm of the Dying Gull, his pitifull small and shabby ship, Captain Jack seeks not only to reverse his recent spate of ill fortune, but to save his very life from the most formidable and malicious foe he has never faced.

In theaters May 26th from directorsEspen Sandberg and Joachim Rnning, the entire cast includes: Johnny Depp, Geoffrey Rush, Javier Bardem, Kevin R. McNally, Stephen Graham, Golshifteh Farahani, Kaya Scodelario, Brenton Thwaites, Orlando Bloom, Paul McCartney, David Wenham, and Stephen Graham.

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Dozens Starve to Death in Caribbean Prison – Newser

Posted: at 7:39 pm

(Newser) "Straight up: This is hell. Getting locked up in Haiti will drive you crazy if it doesn't kill you first," homicide suspect Vangeliste Bazile tells the AP from Haiti's National Penitentiary. The crumbling facility houses around 5,000 prisoners, 80% of which are in extended pretrial detention. Overcrowding, malnutrition, and infectious diseases that flourish in jammed quarters have led to an upsurge of inmate deaths in Haiti, including 21 at the Port-au-Prince penitentiary just last month. Those who monitor the country's lockups are sounding an alarm about collapsing conditions. "This is the worst rate of preventable deaths that I have encountered anywhere in the world," says Dr. John May, co-founder of the Health Through Walls nonprofit.

Some inmates are provided meals by visiting relatives, but the large majority of prisoners are dependent on authorities to feed them twice a day and get little more than rationed supplies of rice, oats, or cornmeal. Even clean drinking water is often in short supply. Prison authorities say they try their best to meet inmates' needs, but receive insufficient funds from the state to buy food and cooking fuel. Haiti's penal system is by far the globe's most congested, with a staggering 454% occupancy level, according to the University of London's Institute for Criminal Policy Research. The nonprofit Institute for Justice and Democracy blames the overcrowding on rampant corruption, with judges, prosecutors, and lawyers creating a market for bribes.

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CHTA to Hold CHIEF, Taste of the Caribbean in June – Caribbean Journal

Posted: at 7:39 pm

The Caribbean Hotel and Tourism Association is making a big push this June in Miami.

The organization has announced that it will be holding two of its major annual events in Miami, both the Taste of the Caribbean culinary festival and competition and the Caribbean Hotel Industry Exchange Forum.

The latter is typically held in the fall and has been rescheduled to coincide with Taste.

CHIEF brings together the right information, the right people at the right time and by producing this event in Miami we expect many more Caribbean stakeholders to benefit from the educational sessions and invaluable peer-to-peer exchange, said Bill Clegg, Chairperson of CHTAs Membership Committee who also serves as CHIEFs Program Chair.

Taste of the Caribbean is the regions leading culinary competition, bringing together teams from across the region for what is both an industry and consumer event.

This years Taste will also offer educational sessions for food and beverage professionals that promise to enhance individual skills, the CHTA said.

Caribbean Journal Staff

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Imf Bahamas Chief Supports Fiscal Limits – Bahamas Tribune

Posted: at 7:38 pm

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The International Monetary Funds (IMF) Bahamas mission chief has backed calls for a Fiscal Responsibility Act, describing it as a useful medium term component for reforming the Governments finances.

Jarkko Turunen also said the Bahamas vulnerability to major hurricanes was not necessarily an impediment to implementing stricter fiscal rules, explaining that there are ways to design them to allow the Government to respond properly to natural disasters.

Mr Turunen, in an exclusive interview with Tribune Business, described a Fiscal Responsibility Act and fiscal rules as important steps in the Bahamas effort to rein in its fiscal deficits and national debt.

The exact shape of that medium-term fiscal framework, theres many ways to do it, but in principle I would see it as a useful component of fiscal reform and fiscal planning in the Bahamas, he said of a Fiscal Responsibility Act.

Mr Turunens comments are likely to delight groups such as the Chamber of Commerces Coalition for Responsible Taxation, and the Organisation for Responsible Governance (ORG), who have long campaigned for the introduction of such legislation as a means to force the Government to be more transparent and accountable over how it spends taxpayer monies.

His remarks also contradict the position expressed recently by Michael Halkitis, minister of state for finance, who told The Revolution radio show that there were both merits and drawbacks to implementing such an Act.

The Minister said an IMF study had identified both the advantages and disadvantages associated with a Fiscal Responsibility Act, and expressed concerns it would prevent the Government from responding properly in the wake of events such as a Hurricane Matthew-type storm.

The IMF study referenced by Mr Halkitis had suggested that the Government enhance its economic data and statistics collection before implementing such legislation, hence Mr Turunens reference to the medium term.

However, the Bahamas IMF Mission chief suggested that this country could eventually even go beyond a Fiscal Responsibility Act through the implementation of so-called fiscal rules.

While the Act would force the Government to return to Parliament to explain, and gain approval for, exceeding previously set Budget limits with more spending, fiscal rules go even further. They set targets, or limits, such as debt and deficit caps, and accompanying ratios, which the Government cannot go beyond.

I would say there are ways to design fiscal rules that allow the Government to take into account natural disasters and events not anticipated, Mr Turunen told Tribune Business.

The Christie administration has failed to deliver on February 2015 promises to initiate consultation on a Fiscal Responsibility Act, and the 75 per cent year-over-year increase in the deficit for the four months to end-October 2016 has reignited domestic demands for such legislation.

The $67 million increase took the Governments $157.5 million deficit for the four months to end-October 2016, more than 50 per cent higher than its full-year projection.

Mr Turunen, meanwhile, also agreed with Simon Wilson, the Ministry of Finances financial secretary, that the Bahamas needed to reform its Business License regime and find more equitable ways to tax the private sector.

Mr Wilson told a Chamber of Commerce-organised seminar last week that Business License fee rates needed to be lowered, acknowledging that the turnover-based tax was inefficient and regressive because it did not take into account company profitability.

I think that in terms of the general principle, I would agree with what Simon said, Mr Turunen told Tribune Business.

There are better ways of taxing businesses and profits than the current Business License fee. We dont have a position out there in terms of an alternative, but its something we would look at.

Bahamian businesses have complained about the Business License fees structure for years, arguing that using turnover as the basis for its calculation disproportionately places the burden on high sales companies, such as food stores and gas stations, which have low profit margins.

Many companies complain of paying more in Business License fees than they earn in annual profits, with the turnover basis also exacerbating the effects of price controls for many firms.

Mr Turunen had earlier told the Chambers State of the Economy 2017 forum that the IMF had flagged declining foreign direct investment (FDI) inflows as a risk in relation to the Bahamas current account deficits.

Due to this nation importing most of what it consumes, the Bahamas traditionally runs current account deficits - the physical goods it exports minus those it consumes - worth several billion dollars annually.

These, though, are financed by billion dollar inflows on its capital account, which represent tourist spending in the Bahamas and, historically, FDI inflows.

Mr Turunen, though, said a reduction in FDI inflows meant the current account deficit was now being financed by alternative capital sources that were less reliable.

One trend weve seen is the decline in foreign direct investment inflows, he said. That used to be a big part of financing current account deficits, and now its much less so.

This source of financing has been replaced by government borrowing to some extent, and other capital flows.. Some of those flows are less reliable, and weve identified it as a risk, and identified it as a risk in our reports.

Mr Turunen added that the IMF had been a bit surprised by the extent of the Department of Statistics revisions to the 2014 and 2015 GDP numbers, which showed that the Bahamian economy contracted by 0.52 per cent and 1.66 per cent, respectively, for those two years.

We were a bit surprised. We had anticipated a downward revision, but not by such a margin, Mr Turunen said, adding that the IMF often wanted governments to move more quickly on reform.

We are often in agreement on the direction. Sometimes we are impatient. Wed like to see the authorities moving faster, including in areas of structural reform, but these things are difficult to achieve, he explained.

Mr Turunen told Tribune Business that it was possible for the Bahamas to achieve faster GDP growth rates at the same time as fiscal consolidation, again calling for the Government to re-purpose more of its spending to capital and infrastructure projects.

The Christie administration has done the opposite, reducing its capital spending in favour of mobilising private capital via public-private partnerships (PPPs), such as those for the Road Traffic Department and Post Office buildings.

Reiterating that it was time for the Government to rationalise spending to achieve further consolidation, Mr Turunen said reforms to the various components of the Bahamas ease of doing would take time to bear fruit in terms of better economic growth.

I would say that the Bahamas should have a bright future, he told Tribune Business. There are challenges; low growth, the need for fiscal consolidation, and the impact from the hurricane, but to some extent the country is managing with these challenges perhaps better than some of the neighbouring countries.

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Rystad Energy Believes That Offshore Projects Are Becoming … – Seeking Alpha

Posted: at 7:38 pm

Courtesy: Maersk Drilling.

Investment thesis:

A fierce debate is raging over which oil production sector should be chosen for investment first. The investing community is deeply divided about what to consider when it comes to evaluate the US shale versus Offshore drilling production in terms of real numbers and efficiency. Particularly when it comes to "oil service" and less relevant to the oil majors whose are often invested in both segments.

Some extreme views, frequently driven by inexperience and lack of understanding, are totally discounting offshore drilling as something obsolete and expensive, which is due to disappear into oblivion, as soon as tomorrow.

On the other hand, others think that the US Shale will become a white elephant after a few years of intensive drilling, atypical depletion and hidden costs.

In fact, both are merely wrong by touting one oil production sector against another. We need both and probably more if we look at the next 25 years. Therefore, if we need both oil sources of supply, we should invest in both as well. Simple logic, right?

It is interesting to see that US Shale (tight oil) production in the USA represents less than 50% of the US total oil production now or approximately 9 MBOEPD, and will be approximately 60% of the 10+ MBOEPD expected in 2040 according to EIA.

The recurring fundamental question is to adapt a trading strategy that can fit perfectly to each segment without using anachronism or caricature in the process of selection.

To use a very simple image to illustrate this futile misconception. How can one walk without the use of his two legs functioning adequately?

The concept of walking is based on the use of two legs, period. It is a basic principle -- one leg equal falling -- Same as the concept of smooth oil consumption which is based on a balanced worldwide production, wherever oil can be found and be delivered at a profit. Profit not limited to "operating profit" by the way, but "net profit" when all expenses have been subtracted.

What is the breakeven price really?

The charts below from Rystad Energy/WoodMcKenzie are a good indicator of the US Shale recent success and its limitation as well.

Another well-known research firm called WoodMcKenzie in the US is indicating the "point break" for both the onshore and offshore in the USA which shows how important a $60 per barrel can be for the all oil industry.

However, it can also be used to express how difficult it will be for oil prices to trade well above this significant level and at least for a long period of time.

We see that we have now a pretty similar value if we compare onshore and offshore in the USA. Furthermore, the offshore industry achieved significant reduction as the chart below is showing:

Commentary:

Today, I would like to share with you my thoughts about an article from Offshore Magazine published on February 17, 2017.

The article referred to Rystad Energy, which is a well-known independent oil and gas consulting services and business intelligence data firm offering global databases, strategy advisory and research.

Rystad Energy believes that after two years of cost cutting programs in the offshore service, 2016 and 2017 are showing "full competitiveness within these two sources of supply".

For every dollar that is invested into the North American shale market in 2017, the analyst firm says, a dollar is also earmarked for the development of new offshore resources. Both sources of future production, shale and offshore, will receive around $70 billion each of planned capex.

Audun Martinsen, VP Oilfield Research at Rystad Energy, said:

E&P and oilfield service companies have worked intensively on methods to reduce costs. However, these improvements are also a result of a portfolio effect. By focusing on the areas with the highest potential within their portfolios, E&P companies naturally gained the most from these newfound efficiencies by high-grading their undeveloped fields. Non-sanctioned offshore developments can expect an improvement of 15-30% in their breakeven prices.

As we can see, the CapEx repartition between the US Shale and offshore is nearly equal in value. Another chart from Rystad is also very telling:

Rystad Energy is arguing that the US Shale and the offshore drilling segment are difficult to differentiate in terms of breakeven price and in terms of capital expenditure.

One of the reasons for offshore projects starting to become competitive again is the strong deflation of unit prices which is actually higher for offshore than onshore. In 2016, unit prices for offshore developments have been reduced 27% from the peak in 2014 for awarded contracts.

One of the key segments, which have helped the offshore cost to come down, is related to the immense pressure on day rates for drilling rigs. Here, prices have come down more than 50%. For other segments, the cost is down more in the range of 20-30%, where subsea is on the upper end.

However, due to oil prices increase and a surge in activity overall, inflation will have a negative effect going forward. The process has already started with the US Shale (see breakeven price chart).

Rystad Energy says the time window of low service prices has started to shrink, whereas it will stay open longer for offshore activity due the longer contract durations and lead times. This will impact even more the 2018 volumes of activity and also benefit service companies on their top and bottom line.

Important note: Do not forget to follow me on the oil sector. Thank you for your support.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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EnBW Hohe See 500 MW Offshore Wind Farm To Proceed With Siemens & Enbridge – CleanTechnica

Posted: at 7:38 pm

Published on February 20th, 2017 | by Joshua S Hill

February 20th, 2017 by Joshua S Hill

The 497 megawatt EnBW Hohe See offshore wind farm off the coast of Germany is set to proceed following Canadian energy infrastructure company Enbridges decision to invest in the project, and German engineering company Siemens committing for the first time to provide complete construction work.

German public utility company EnBW made a final construction and investment decision back at the end of 2016, and appointed Siemens to provide not just the wind turbines, but full construction work, including providing the foundations. This week, the project received its last green light, with Canadian energy infrastructure company Enbridge acquiring 49.9% of the shares in the Hohe See project.

The EnBW Hohe See offshore wind project is set to be constructed in the exclusive economic zone in the North Sea, off the coast of Germany. It will cover an area of approximately 42 square kilometers, and upon completion will have a total capacity of 497 megawatts (MW) thanks to 71 Siemens 7 MW wind turbines. The project is estimated to be able to provide electricity for around 560,000 average households.

With Enbridge at our side, we can realise our largest offshore wind farm to date and at the same time generate financial scope through this participation for the development of new projects, said EnBW CEO Frank Mastiaux. This is now the third successful participation model with which we are sharing the risk and represents another major step in the implementation of our EnBW 2020 strategy.

With an investment volume of around 1.8 billion euro, we have not only taken one of the largest investment decisions in the history of our company but despite the currently difficult economic conditions, we are continuing to rigorously invest in the implementation of our strategy and through EnBW Hohe See we are developing another cornerstone for safeguarding the future of EnBW. Following its commissioning in 2019, the wind farm will make a substantial contribution to our Group operating result.

Siemens will begin manufacturing the 71 SWT-7.0-154 wind turbines from its new nacelle plant in Cuxhaven beginning in the middle 2018, with delivery expected for early 2019. Siemens will also provide the large monopile foundations, measuring up to 80 meters and with a weight of 1,500 tonnes.

We are happy to apply our full scope of engineering services at EnBW Hohe See offshore wind project, said Michael Hannibal, Offshore CEO at Siemens Wind Power. The extended scope makes this 497-megawatt wind power plant one of the largest projects that we have ever executed. Our customer thereby benefits from the proven experience of a multinational company along the entire value chain of large offshore wind projects.

Buy a cool T-shirt or mug in the CleanTechnica store! Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.

Tags: Enbridge, EnBW, EnBW Hohe See, Germany, Hohe See, siemens

Joshua S Hill I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

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Offshore Drilling – 2 Floaters Needed In The Verbier Field And In The Partridge Prospect In UK North Sea – Seeking Alpha

Posted: at 7:38 pm

Image: Semisubmersible Songa Delta.

Investment thesis:

The recent oil prices increase that we have experienced since OPEC and non-OPEC nations decided to reduce production at the end of last year, is slowly trickling down from the oil majors, such as Statoil, to the depressed offshore industry, which is desperate to find work for an ever growing unused fleet rusting away, idle and silent, in the Scottish Cromarty Firth, north of Inverness, graveyard (See image below).

The Cromarty Firth, north of Inverness, is currently packed with more unused rigs than it has been at any point in the last decade.

I have been religiously reporting any new contract or possible drilling contract that could be beneficial for the offshore drillers for the past two years, and it is quite disheartening to see such a slowdown in exploration CapEx, when you know how active this segment was, not even three to four years ago..

Yes, of course, we know that the offshore industry, or rather the oil industry in general is highly cyclical and it will come a time when the industry will complain because it cannot keep up with the demand.

However, the offshore drilling industry is a particular breed, for one particular specific reason, at least, and it is called a debt overload. Offshore drillers are buried under a few billion dollars in debt and need to contract their costly fleet to survive and meet their tight debt covenants.

Regrettably, it is becoming increasingly difficult because of the lack of contract aggravated by a series of contract termination and reduced day rates to a breakeven level, which are inadequate to service the long term debt.

This basic principal reduces significantly the "apnea time" in which a driller can survive without breathing air (new contract). Already, many drillers have announced a restructuring under chapter 11 or worse a total liquidation. Hercules offshore is gone, liquidated almost totally now, and Paragon Offshore (OTCPK:PGNPQ) is on life support following the same potential fate.

Many others are about to announce a restructuring in 2017, such as Seadrill (NYSE:SDRL), Pacific Drilling (NYSE:PACD) and Ocean Rig UDW (NASDAQ:ORIG). These companies already announced that a "plan" will be unveiled soon.

Well, it doesn't mean that the industry will disappear, of course not, and many uninformed investors have made this wrong assumption repeatedly.

It means that the offshore industry is shedding away its "old skin" to become leaner (the debt will be gone, replaced by new equity) and smaller (many rigs will be scrapped in the process) for the next bullish phase. The only negative is that the actual shareholders will be left with the "old skin".

Investors and stockholders will have to follow closely this struggling industry based on the price of oil volatility and other factors such as potential contracts. The question is not to deny or embellish a situation, it is rather to adjust the right trading/investing strategy that fits an ever changing environment which requires an impartial examination.

Commentary:

On February 17, 2017, we learned from OffshoreEnergyToday the following:

Oil giant Statoil is currently looking for a drilling rig as it gears up to drill an exploration well on the Verbier prospect in the UK sector of the North Sea.

The Verbier prospect is located in Licence P.2170, Blocks 20/5b & 21/1d in the Central North Sea and is operated by Statoil's UK subsidiary, Statoil (U.K.) Limited, with 70% working interest.

The partners in the license are Jersey Oil & Gas and CIECO Exploration and Production with 18% and 12% interests, respectively.

Statoil, as the operator of the license, made a commitment to drill the exploration well in November last year.

According to Jersey's statement on Friday, Statoil is currently undertaking a tender process for a drilling rig and all related services to drill the Verbier well this summer. The rig contract is expected to be awarded in the near future, Jersey O&G added.

Jersey O&G also said that, in addition to Statoil's work, it is conducting further technical studies to improve and update the group's understanding of the Verbier prospect...

... Additionally, pursuant to the terms of the farm-out, Statoil is funding all costs up to $25 million in respect to the drilling of the first exploration well on the license.

In the same article, we learned also that another well will be drilled in another part.

Related to its other license in the North Sea, the Licence P.1989 Blocks 14/11, 12 & 16, Jersey O&G also said on Friday that Azinor Catalyst Limited has stated its intention to drill an exploration well the Partridge prospect, previously named Homer, later this year. Jersey has 20% working interest in the license...

Conclusion:

The offshore industry is walking a thin line right now, between "life and death". Yet, I believe strongly that it is a strategical mistake to look at the sector as a non-potential investment.

The only paramount question is how, not if. As an investor and trader you have the chance to get the best of any situation, as long as you are willing to understand it honestly, and without being blinded by pre-judgement. Offshore is not dead and it will rebound.

Companies like Transocean (NYSE:RIG), Ensco (NYSE:ESV), Noble (NYSE:NE), Diamond Offshore (NYSE:DO) and Rowan Companies (NYSE:RDC) are a few that can be considered as a long-term opportunity when the time will be right.

Rystad Energy is explaining clearly:

However, with two years of cost cutting programs in the offshore value chain, 2016 and 2017 are showing full competitiveness within these two sources of supply. This shows what the offshore industry has worked with during the downturn. In a time when many thought that offshore projects could not compete with shale, offshore operators managed to turn uncommercial projects into highly competitive projects with the help from service companies. Offshore projects that were uncommercial at $110/bbl in 2013 are now commercial at an oil price of $50/bbl.

Sometimes it is important to move through a reversal of fortune because, like the phoenix the industry will be rising again from its own ashes. Thus, be patient and vigilant for the early signs.

Inportant note: Do not forget to follow me on the offshore drilling industry. Thank you for your support.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I trade and own long positions in the offshore drilling segment.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

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JDR wins US offshore wind farm work – OE Digital

Posted: at 7:38 pm

Subsea power cables and umbilical manufacturer JDR has been selected by US Wind Inc., as the preferred cable partner for its first offshore wind project.

The project is the 750MW Maryland Development project. Expected to be the largest offshore wind farm to date in the USA, the Maryland Development project will include a maximum of 187 turbines in up to 30m water depth, and will be 24km (15mi) off the coast. The project is subject to offshore renewable energy credit in 2017 and final investment decision in 2018. JDR will supply and install both inter-array and export cables.

JDRs scope of supply for the Maryland Development Project includes project management, engineering and manufacture of 196km (122mi) of inter-array cable, 180km (112mi) of export cable (split into three lengths) and cable accessories. Cable installation for both inter-array, export cables and termination and testing of both cable types will also be provided by JDR. Cable manufacture is expected to commence in 2018 with delivery and installation in 2019 and 2020. Engineering works will begin in 2017. The contract is worth more than US$275 million.

The USA is a growing market opportunity and of strategic importance for the offshore renewable industry. This contract award demonstrates customer confidence in JDR as the leading cable partner of choice, says JDR CEO, David Currie.

To support the project, JDR will establish a storage and mobilization facility in Maryland. The company will also open a project management and engineering office base.

Paul Rich, Director of Project Development for US Wind Inc. says: US Wind is proud to be a local, Maryland-based company bringing a new industry to the state along with thousands of manufacturing jobs for generations, as we establish the hub for offshore wind manufacturing for the entire east coast of the US."

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An offshore deal for Indigenous people? – Policy Options (registration)

Posted: at 7:38 pm

If I had to count the number of times I have heard that we need to lift Indigenous people out of poverty and make Indigenous people equal and productive partners in Canadas social and economic fabric, I just would not know where or when to begin. It seems I have been hearing similar sentiments going back more than 45 years.

We heard it from politicians dating back to the Supreme Courts decision in Calder in 1973.

We heard it from the Royal Commission on Aboriginal Peoples in 1996.

We heard it from Prime Minister Stephen Harper in the governments apology on residential schools on June 11, 2008.

We heard it during the Truth and Reconciliation Commission process and in the commissions calls to action in 2015.

And we are especially hearing it now in what appears to be the Liberal governments desire to open nation-to-nation relationships with Indigenous peoples and to implement the United Nations Declaration on the Rights of Indigenous Peoples.

This is just a smattering of what has, up to now, proven to be nothing more than lip service.

Indigenous people still lag behind the rest of the country in educational achievements. Many Indigenous people live in overcrowded homes in communities that lack the infrastructure to provide safe drinking water to their people. It is a well-known fact that the rate of incarceration of Indigenous persons in our prisons far exceeds that of the non-Indigenous population, as does the proportion of Indigenous children in foster homes.

It is time we recognized that poverty is at the root of the social malaise in which many of our Indigenous people find themselves. Most Indigenous people in this country are not as lucky as some of their western First Nations cousins, who are sitting on oil and gas reserves and have found themselves in a bargaining position that would be the envy of many. And more power to them. The result in places like Fort McKay First Nation in Alberta which is prospering from the oil sands service businesses it has built is perhaps what meaningful partnerships are supposed to look like looking at it from a distance.

It is time to take a new approach to how we create wealth in Indigenous communities. Despite the many efforts to roll out various government economic development programs, which support projects like building service stations and hotels, what we as a country need to do is turn our minds to how we attract new investment to Indigenous communities.

The federal government has a policy that deals with addressing past wrongs: cases where First Nations have lost land through, among other things, the unlawful surrender of reserve land. Many of the events that gave rise to todays land claims happened well over a century ago. The policy deals with the settlement of specific claims. In the Atlantic region of Canada, the process tends to take years, sometimes decades, to resolve and usually involves financial compensation determined by actuarial calculations. It also often involves the replacement of lost land by allowing the First Nations to acquire new land to add to their reserves.

Canadas offshore hydrocarbon resources hold huge potential for growth, which up to now has been the domain of the oil companies. Canadians should start thinking about the ownership of those lands and the benefits that flow from them in a different way, starting with the creation of a new deal for First Nations.

I can hear the arguments before a discussion like this even gets started. People will say that the offshore areas are not traditional Indian lands, nor have Indigenous people traditionally played a role in the development of offshore oil and gas. Lets look at it another way. The whole industry of offshore oil exploration and production is anything but traditional and is a new economic driver, particularly in eastern Canada. What long traditional history of activity does Canada or its provinces have in the offshore that entitles the government to control land leases and choose who has access to them? Canada was not involved in offshore oil and gas at the time of contact that is, when Euro-immigrants landed on the shores of North America, 500 years ago.

The place to start is to set aside lands in the offshore known to hold significant resources for willing Indigenous communities to control.

We need to consider how to involve more Indigenous communities in the benefits associated with oil exploration and production. The place to start is to set aside lands in the offshore known to hold significant resources for willing Indigenous communities to control so that they become the authorities negotiating with the oil companies for exploration and drilling rights. What could possibly be wrong with that idea?

Today the government tells First Nations that they are free to find land for economic development purposes, adjacent to their reserves. (Often that is difficult. Try finding high-potential land in New Brunswick that is not already controlled by a major entity!) Rather than that approach, lets see how the government can work with Indigenous communities to acquire land in the offshore so they can work with the oil companies to develop arrangements that will see revenue-sharing, employment and other benefits. This approach would create sustainable, lasting resources for their communities. It is a way to share the wealth.

In 1978, Minister of Fisheries and Oceans Romo LeBlanc reserved three deep-sea shrimp fishing licences for fishermens organizations in Labrador. Much of the newly discovered resource was off the Labrador coast. New entities were born in Labrador, owned and controlled by the fishermen, and the early days saw a plethora of foreign and domestic interests travelling to Labrador to meet with fishermen to make deals. And many deals were made. People new to this fishery became trained and employed on the vessels in the offshore fishery. Money began flowing to the companies that the fishermen owned, by way of licence fees, and that allowed the community-based companies to invest in other ventures in the community.

In southern Labrador, for example, new fish plants were built, new resources harvested and new jobs created. Additionally, as a result of those licence fees, the people created their own credit union, which has been highly successful. So with the stroke of a pen, and not insignificant vision, LeBlanc transformed many coastal communities by creating these new opportunities and diversifying an economy that benefited Indigenous people.

Yet there were those voices that said to Indigenous fishermen, You people have no place in this fishery. You have no tradition in it. You are babes in the woods. Leave this to the big boys! Well, Labrador fishermen were persistent and held onto LeBlancs vision. They continue to be players in this offshore fishery, whether the big boys like it or not.

To help lift Indigenous people out of poverty, Canada can do something similar with respect to the management of offshore oil lands and resources. All it takes is political guts, visionary leadership and an open mind, as Romo LeBlanc demonstrated in the late 1970s.

Photo:Verena Matthew/Shutterstock.com

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An offshore deal for Indigenous people? - Policy Options (registration)

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Congress says won’t renew liquor licenses of offshore casinos in Goa – Times of India

Posted: at 7:38 pm

PANAJI: The opposition Congress on Monday said it would not renew the liquor licences of offshore casinos after March 31 if voted to power on March 11, the day of counting of votes for the February 4 Assembly elections. "Once we form the government, I assure you we will not renew the excise licences of the offshore casino vessels once they expire on March 31," AICC secretary Girish Chodankar told reporters. Banning the offshore casinos in Mandovi river was one of the prominent promises made by the Congress in its election manifesto. "The Congress party will take appropriate legal remedies to insulate its decision to ban the sale of liquor on offshore casinos from any legal implications. We will have to make sure that the casino operators don't challenge our decision in the court," he said. As the casinos currently operating in Mandovi river are 800 metres away from national highway, they do not fall under the purview of a recent Supreme Court order under which the liquor outlets located within 500 metres of state or national highways will have to shut down.

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Congress says won't renew liquor licenses of offshore casinos in Goa - Times of India

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