- Sep 26, 2000
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http://news.yahoo.com/s/time/2...eusbuyintocubasoilfind
Will the US Buy into Cuba's Oil Find?
For decades, the only promise most Cubans saw in the ocean north of their island was the current that carries homemade rafts to Florida. That all changed a few years ago when geologists estimated that between 5 billion bbl. and 10 billion bbl. of oil lie beneath the waters off Cuba's northwest coast. Suddenly it seemed as though the hemisphere's sole communist nation might finally end its desperate dependence on oil-rich allies like the former Soviet Union and Venezuela - and perhaps even escape its impoverished economic time warp altogether.
Washington's own Cuba time warp got a jolt as well. The oil discovery has renewed debate over whether a crude-thirsty U.S. should loosen its 46-year-old trade embargo against Cuba and let yanqui firms join the drilling, which is taking place fewer than 100 miles off U.S. shores. Despite the Bush Administration's hard line on Cuba, Republicans in Congress have proposed legislation to exempt Big Oil from the embargo. That clamor is sure to rise - especially if Barack Obama, who is more open to dialogue with Havana, becomes the next President - now that Cuba's state oil company, Cubapetroleo, or Cupet, has announced a stunning new estimate of more than 20 billion bbl. bubbling off its shores. "This is not a game," Cupet's exploration manager, Rafael Tenreyro, assured reporters in Havana last week.
Gee, when I suggested the U.S. might invade Cuba soon, people seemed to think it was a wacky idea. Heck, we invaded Iraq for oil. And Cuba might actually be a country where the people would not only see us as liberators but become real friends with us.
Interesting how the Cuba embargo was a cornerstone of US policy right up until they found OIL. Seems the black gold is stronger than any Republican principals.
Now the only question is why negotiate when you can conquer?
If its conquer then our troops will be in Havana faster than you can say oil depletion allowance.
Will the US Buy into Cuba's Oil Find?
For decades, the only promise most Cubans saw in the ocean north of their island was the current that carries homemade rafts to Florida. That all changed a few years ago when geologists estimated that between 5 billion bbl. and 10 billion bbl. of oil lie beneath the waters off Cuba's northwest coast. Suddenly it seemed as though the hemisphere's sole communist nation might finally end its desperate dependence on oil-rich allies like the former Soviet Union and Venezuela - and perhaps even escape its impoverished economic time warp altogether.
Washington's own Cuba time warp got a jolt as well. The oil discovery has renewed debate over whether a crude-thirsty U.S. should loosen its 46-year-old trade embargo against Cuba and let yanqui firms join the drilling, which is taking place fewer than 100 miles off U.S. shores. Despite the Bush Administration's hard line on Cuba, Republicans in Congress have proposed legislation to exempt Big Oil from the embargo. That clamor is sure to rise - especially if Barack Obama, who is more open to dialogue with Havana, becomes the next President - now that Cuba's state oil company, Cubapetroleo, or Cupet, has announced a stunning new estimate of more than 20 billion bbl. bubbling off its shores. "This is not a game," Cupet's exploration manager, Rafael Tenreyro, assured reporters in Havana last week.
Gee, when I suggested the U.S. might invade Cuba soon, people seemed to think it was a wacky idea. Heck, we invaded Iraq for oil. And Cuba might actually be a country where the people would not only see us as liberators but become real friends with us.
Interesting how the Cuba embargo was a cornerstone of US policy right up until they found OIL. Seems the black gold is stronger than any Republican principals.
Now the only question is why negotiate when you can conquer?
If its conquer then our troops will be in Havana faster than you can say oil depletion allowance.
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