With the PUC driven into a pit of irrelevance, this is no suprise…
He’s been the PUC boss since its inception in 1999, but now Dr. Gilbert Canton is going to work for petro-dollars at Belize Natural Energy. A press release from BNE this evening announced that canton has been appointed CEO.
As Chairman for the past 7 years, Canton basically built the PUC and government will now have to find a suitably qualified person to act as chief regulator for an increasingly diversified and competitive industry driven by zealous foreign investors. Up to the time of his appointment, the CEO’s duties at BNE were carried out by company directors. And, also in today’s release those directors have spoken for the first time since the House of Representatives passed legislation for a 40% income tax regime. The Senate blocked passage of that legislation and has sent it back to committee. But despite the so-called shifting of the goal posts, and they could shift even more, BNE has gotten a $30 million loan with the Standard Bank. According to the release, BNE continues to re-invest 100% of its cash flow into exploration and operations.