By not allowing offshore drilling, Belize also spared itself, and the neighboring countries of Mexico, Honduras, and Guatemala from potential oil spills which would have been highly detrimental to the people, environment, and tourism of all four countries. (grandbaymen.com)
The manual is highly technical and outlines concerns specific to the industry, including accounting rules for oil reserves, how to review engineering reports, environmental issues such as potential oil spills and other risks. (bloomberg.com)
Belize is home to hundreds of endangered animals, birds, and plants that thrive on the reef, all of which could be endangered by drilling practices and potential oil spills such as the Deepwater Horizon incident in 2010 that took place in the nearby Gulf of Mexico. (chabilmarvillas.com)