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Tonight, special correspondent, Janelle Chanona examines both poles of the divisive issue. Here's her report on what one marine biologist calls, "Drilling In the Dark".

Janelle Chanona Reporting

Belize's underwater world is home to colourful...interesting...terrifying...and awe inspiring marine life. But experts say these incredible creatures and their habitats will disappear in the event of a single oil spill.

The image you are looking at is the last offshore oil rig to work in Belizean waters. In the 2007, Island Oil set up "a jack up platform" in the shallow waters off Monkey River.

Melanie McField - Director, Healthy Reefs for Healthy People Initiative, Belize
"This is what they are being allowed to do...was to strap together forty-foot containers filled with Styrofoam and that was used to float the drill rig. How do you do that? How do you string together containers and consider it an adequate platform for open ocean drilling?"

According to Dr. Melanie McField, the Director of the Healthy Reefs for Healthy People Initiative, such precedence does not inspire confidence in the regulation of off shore drilling.

Melanie McField
"To some degree, exploratory drilling is always drilling in the dark. They have some data that they are looking at and they are hoping to find something but it's a gamble and that's why people that invest in this are kind of risk-takers, they are gambling, they are hoping to hit it rich."

For decades major oil companies have explored Belize's land and sea searching for petroleum. So far only Belize Natural Energy has discovered crude oil in commercial quantities. But local government experts believe another find is imminent.

And while the oil optimists are hoping for the best, the environmentalists are bracing for the worse...especially when it comes to offshore drilling. They contend accidents are inevitable

Melanie McField
"I don't think there's any way to prevent them. Because you are drilling in the dark. You really don't know what you are drilling into and when you hit it, it can have more pressure than you imagined, things can be different than you thought they would and then your equipment isn't sufficient."

McField argues that finding and producing oil is an inherently dirty business.

Melanie McField
"You are leaving all this debris and kind of construction type material, so that's happening at the site of drilling but there's all of type of other...there is increased boat traffic, there's accidents, there are shipping type accidents and there's pipeline, if you got into production, there would be massive pipes on the seabed taking this oil back on land. We just have no confidence that things are going to be done up to standard, based on the kind of actions that are being taken right now and what has happened in the past."

Andre Cho - Director and Inspector of Petroleum, Ministry of Natural Resources
"The oil industry, especially when it comes off offshore exploration is very risky.just like a lot of other industries."

Director of Petroleum Andre Cho believes Belize can strike a balance between petroleum and industries such as tourism and fisheries. He strongly disputes the environmentalists' position on the issue. In fact we asked him about the Island Oil rig.

Andre Cho
"No, no, no. That's what I'm talking about. They should come here for the correct information and get schooled."

Chief Environmental Officer Martin Alegria was more generous than his colleague.

Martin Alegria - Chief Environmental Officer, DOE
"I wouldn't doubt it the way how in the past things were done without environmental consciousness but what I can tell you is that today, yesterday and perhaps even tomorrow those types, certain types of activities or methodologies that were acceptable may not be now."

For the record, Cho says Island Oil had a typical shallow water jack up platform that was constructed along accepted international industry standards.

Andre Cho
"Yeah, what we did, because we don't have personnel that specialize in offshore rigs and drilling, we hired a company and paid them ten thousand US dollars to come and inspect the rig. That's an example of what we do to fill in the gaps, hire international people, people that are trained and qualified to do these things."

As for the comparisons between the disaster in the Gulf of Mexico and potential danger to Belize, Cho sites dramatic differences in depths and pressures between the two locations. Furthermore, he maintains gross negligence was to blame.

Andre Cho
"Yes, people can say well that can happen here. A company can come and be negligent and we are sleeping at our desks. But that's why the NGOs can play an important role to ensure that we are applying the highest requirements and standards for these companies and they can do that by working closely with us."

And Cho goes even further, contending that conservationists should focus on present threats to Belize's marine environment such as from the shipping and cruise ship industries as well as from the tanker which transports sixty-five thousand barrels of oil twice a month from the Big Creek port.

Andre Cho
"So what that tells you? That surprises me - that shocks me. They have the wrong mentality. They should be working with the Government on putting proper things, minimum measures in place to deal with a spill if that tanker runs into the reef...that worries me every day. That they are not doing that...they are not focusing on that."

Tanya Williams - Representative, Coalition to Save Our Natural Heritage
"It has been on the radar for a while, but it has not been addressed, which is what raises the red flags for us when we are talking about offshore oil exploration. How can we not address a very simple and present threat, and we are looking at exploding that threat by adding on structures within our barrier reef and marine systems."

The environmentalists maintain all threats to Belize's marine environment need be addressed in a comprehensive manner with proper policies, safety measures and legislation, before any drilling is allowed.

Melanie McField
"These goods and services that the reef is providing, we just take a lot of it for granted. And having a major accident or an industry that's growing and doing a lot of marine construction and alteration of the sea bed and shoreline those are all things that degrade the reef, degrade the mangroves further and increase the potential for a major disaster."

Inherent concerns about off-shore drilling has prompted the environmental community to launch a national public awareness campaign calling for a moratorium on offshore drilling; a ban on drilling in protected areas; and a referendum on the issue.

Nelly Catzim - Executive Director, Southern Environmental Association
"When we hear oil it's just an added concern and a major concern at that."

Nelly Catzim is the Executive Director of the Southern Environmental Association. Based on her team's experience enforcing fisheries' laws in Belize's southern waters, Catzim advises an abundance of caution when it comes to offshore drilling.

Nelly Catzim
"When you look at oil in particular at a national context, not only at the marine context, but in the national context, there may be areas where there is the possibility for exploration. But let's step back, take a look at what currently exists, what mechanisms are in place - can we realistically deal with the proper management of oil exploration in our country at this juncture? And if not, let's look at what needs to go in place before we consider and go down that path."

Andre Cho
"What we are doing, we are doing it with the environment in mind. To develop a country you need revenues and just like with every sector, every industry it has its risks and we just need to do it properly."

Melanie McField
"You'll end up with somebody having a resort or a little eco-lodge right next to a big barge with a docking station for the oil transport industry. It's an ugly dirty business and if you look at photos from the Gulf of Mexico, there's just pipeline and barges, equipment and industrialization everywhere and I don't think anybody that's what anybody really wants our coastline to look like."

Martin Allegria
"I am confident and comfortable that Belizeans are one people when it comes to the protection of our beloved Belize Barrier reef so that being the number one issue across party lines, across economic scales I mean we are already set that that will be one of the primary factors in determining the way forward, not only in petroleum but in tourism, industry."

While there are opposing interests and very different best and worse case scenarios, the bottom-line is that vast areas of Belize's offshore areas have been parceled out to oil companies in sovereign, enforceable agreements.

The final verdict will pivot on whether a groundswell of popular opposition can convince policymakers to focus on the risks - rather than the possible rewards - of offshore drilling.

That feature was produced in association with the Healthy Reefs initiative - it is the first in a two-part series...