Yahoo: Oil In Cuba

[FreeChile]

Feel free to connect this news item with the previous threads on the US Embargo on Cuba, Bolivia, Venezuela and any other stories you feel are related. I guess, while the cat is away the mouse will play.

It seems some lawmakers are doubting that the US policy regarding Cuba is good for business.

http://www.nytimes.com/2006/05/09/washington/09drill.html?_r=1&oref=slogin

Cuba Plans Offshore Wells Banned in U.S. Waters
By MICHAEL JANOFSKY
Published: May 9, 2006

WASHINGTON, May 8 — In 1977, the United States and Cuba signed a treaty that evenly divided the Florida Straits to preserve each country's economic rights. They included access to vast underwater oil and gas fields on both sides of the line.

Now, with energy costs soaring, plans are under way to drill this year — but all on the Cuban side.

With only modest energy needs and no ability of its own to drill, Cuba has negotiated lease agreements with China and other energy-hungry countries to extract resources for themselves and for Cuba.

Cuba's drilling plans have been in place for several years, but now that China, India and others are involved and fuel prices are unusually high, a growing number of lawmakers and business leaders in the United States are starting to complain. They argue that the United States' decades-old ban against drilling in coastal waters is driving up domestic energy costs and, in this case, is giving two of America's chief economic competitors access to energy at the United States' expense.

 

[Grammatron]

Feel free to connect this news item with the previous threads on the US Embargo on Cuba, Bolivia, Venezuela and any other stories you feel are related. I guess, while the cat is away the mouse will play.

It seems some lawmakers are doubting that the US policy regarding Cuba is good for business.

http://www.nytimes.com/2006/05/09/washington/09drill.html?_r=1&oref=slogin

I don't think it has anything to do with Cuba and more with US policies. We have oil on the west coast as well and no one wants to drill it, in fact the Democratic candidate for governor of California is running on a platform of making it harder to drill for oil off shore. Although I am not sure how one can make impossible harder.

 

[BPSCG]

Feel free to connect this news item with the previous threads on the US Embargo on Cuba, Bolivia, Venezuela and any other stories you feel are related. I guess, while the cat is away the mouse will play.

I saw this a few weeks ago, thought about quoting it in a post, but changed my mind when it turned out that the Spanish were disappointed in the quality of the oil they got out of the Cuban sector, back in 2003, I think.

But I guess with gas prices through the roof, it becomes worth going after.

The oil in the U.S. sector, of course, is not worth going after. I'm sure Mark has his "we shouldn't despoil a pristine environment for a small amount of oil" macro key warmed up and ready.

 

[geni]

But I guess with gas prices through the roof, it becomes worth going after.

I doubt that is the sole reason china is interested.

 

[ImaginalDisc]

The oil in the U.S. sector, of course, is not worth going after. I'm sure Mark has his "we shouldn't despoil a pristine environment for a small amount of oil" macro key warmed up and ready.

Must you poison the well?

 

[FreeChile]

I don't think it has anything to do with Cuba and more with US policies. We have oil on the west coast as well and no one wants to drill it, in fact the Democratic candidate for governor of California is running on a platform of making it harder to drill for oil off shore. Although I am not sure how one can make impossible harder.

How could the second part of the argument by the politicians be made then:
They argue that the United States' decades-old ban against drilling in coastal waters is driving up domestic energy costs and, in this case, is giving two of America's chief economic competitors access to energy at the United States' expense.

 

[FreeChile]

I saw this a few weeks ago, thought about quoting it in a post, but changed my mind when it turned out that the Spanish were disappointed in the quality of the oil they got out of the Cuban sector, back in 2003, I think.

But I guess with gas prices through the roof, it becomes worth going after.

The oil in the U.S. sector, of course, is not worth going after. I'm sure Mark has his "we shouldn't despoil a pristine environment for a small amount of oil" macro key warmed up and ready.

With what is happening in Bolivia, I wouldn't be surprised if Spain tried to get in. That would make it an interesting chuffling of cards. They would be kicked out of Bolivia and proceed to go on a gooze chase to build more infrasctructure for someone else. I might be giving the three-amigos (Chavez, Morales, and Castro) too much credit. You think they planned it this way?

 

[CapelDodger]

The oil in the U.S. sector, of course, is not worth going after.

Perhaps not when compared against total US demand and its available alternatives. The Cuban prospects are a much bigger deal when compared with Cuba's overall economy. The contracts involved in developing them are a much bigger deal for the US companies that might take them up (if they were allowed to) than they are for Washington (where there are principles to uphold).

 

[CapelDodger]

With what is happening in Bolivia, I wouldn't be surprised if Spain tried to get in. That would make it an interesting chuffling of cards. They would be kicked out of Bolivia and proceed to go on a gooze chase to build more infrasctructure for someone else. I might be giving the three-amigos (Chavez, Morales, and Castro) too much credit. You think they planned it this way?

Interesting thought. I hadn't considered the Spanish interaction with modern Central America outside the cocaine trade. At first glance I don't think it's a Three Amigos priority, but it might be more important for the Spanish. And, via the Spanish, Central America has some potential influence in the EU.

"So far from God, so close to the United States", but also far from the Chinese and who gives a toss about Spain these days? Apart from the Spanish? Hmmm ... an idea worthy of a three-pipe ponder.