Discussion in 'General Global Topics' started by JBeukema, May 17, 2011.
That's a good article. They are inviting U.S. companies to participate.
If Cuba's oil demands amount to little more than 150k bbls/day maybe we s/have lifted the trade ban long ago and gone ahead and supplied them with crude, as opposed to Venezuela.
Well a huge windfall like that would certainly improve Cuba's economy.
How much it will really help the people is another kettle of fish, I suspect.
And so it begins...
RIGZONE - Repsol to Begin Offshore Cuba Drilling Later This Year
The embargo means that, if an emergency arises or if a piece of equipment is needed, international oil companies operating offshore Cuba could not turn to U.S. based companies in these situations.
Could it be considered Cuban "free enterprise"?
A mere 60 miles from Florida waters. Oh the irony.
The only reason we haven't is because there are 27 congressmen from Florida afraid that their Cuban Constituants would Castroate them.
Or force them to drink Castro oil.
I wish them success in their endeavors. Cuba could soon be exporting crude and products, bringing much needed capital into their economy. And with Raul as President, who knows what the future may hold?
The US has a Trade Embargo with Cuba. That means the US and US owned companies cannot do business with Cuba. Furthermore, US Citizens cannot travel to Cuba without Gov't permission.
The US doesn't not impose a Blockade on Cuba. Cuba trades with EVERY OTHER COUNTRY IN THE WORLD, yet they are still poor because of their leaders.
So what would the effect of Cuba drilling for oil?: The Cuban government will have more money, the Cuban people will still be poor.
I think that the issue is rigs will be going up like gang busters 60 miles from our shores but we won't be putting any of them up as American concerns.
If they suffer a failure we are almost sure to feel the blowback, ipso why don't we just build our own off the fla. coast?The risk is basically the same, but, with much greater upside.
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