After almost half a century of failed oil exploration in Belize by some of the largest and most experienced names in the oil industry, today Belize is exporting up to 3,000 barrels of black gold to America every day. In response to the find, the government immediately slapped high speculative taxation on any foreign company attempting to profit from its country’s natural resources. The government has genuine reasons to tax oil so strictly as it seeks to prevent the nation from being exploited, it wants to see revenue from the production of oil made available to benefit the citizens of Belize and improve the infrastructure in Belize. Finally it wants to protect the unique bio-diversity and wealth of stunning flora and fauna that Belize was mainly famous for before the discovery of oil.
If the government lives up to its aims it will prove that Belize is a mature and conscientious nation, it will also enhance the living conditions of Belizeans and improve the general economic position of Belize and it will hopefully preserve the ecologically stunning natural environment in Belize and further enhance Belize as a location to invest.
Amberlamb.com - October 2006
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