Good news for Castro; bad news. If the find is too big, his days might be numbered. We could do it in the name of imminent threat or terrorism. After all, after 9/11, a few overly enthusiastic neocons were talking about how Cuba had some microbiological agents in their hospital or somewhere that could be called a bio weapon. After Iraq, claiming Cuba is developing nukes might be a bit much to sell to the general public. However, the loyal ditto heads would probably go along if you could round up a Miami defector or two to make some claims. ******** Oil Find Hints at a Less Dependent Cuba By SIMON ROMERO Published: January 11, 2005 HOUSTON, Jan. 10 - On Dec. 25, President Fidel Castro said he had some information to lift the spirits of Cuba's 11 million people: two Canadian energy companies, Pebercan and Sherritt International, had discovered oil in the Gulf of Mexico in an area under Cuba's control. Mr. Castro, in an announcement that raised eyebrows in the executive suites of energy companies here, disclosed that the Canadian companies had discovered estimated reserves of 100 million barrels. That was the good news. It was also the bad news. The deposits, which are expected to produce oil as early as next year, may provide Cuba's government with some relief as it presses forward with efforts to use hard currency for purposes other than petroleum purchases from abroad. Shortly after Mr. Castro announced the discovery, the central bank said it was tightening measures intended to centralize the control of dollars circulating in the Cuban economy. Advertisement "Cuba simply needs the money," said John S. Kavulich, president of the U.S.-Cuba Trade and Economic Council in New York, which tracks trade activity in Cuba. Still, the discovery, while considered something of a lifeline for a country still recovering from the loss of Soviet-era subsidized oil imports more than a decade ago, is no panacea. The prospective output by the Canadian companies would cover only about three to four years of oil production by Cuba, which now imports much of its oil from Venezuela on favorable terms. Yet the deposits showed how tantalizingly close Cuba has come to altering the dynamics of oil exploration in the Gulf of Mexico, an area that also provides one of the largest sources of oil for the United States. The economic outlook for Cuba is not as dire as it was a decade ago, with growth reaching 5 percent in 2004, according to government estimates; at least a small part of that economic growth was spurred by investments by international energy companies searching for oil. Last month's discovery already has Cuba watchers here and officials there pondering potential changes in relations with the United States. American companies are currently prohibited from drilling in waters 100 miles or so from the coast of Florida. American energy companies quietly chafe at restrictions that make Cuban territory off limits to them while Canadians, Spaniards and Brazilians search Cuban waters for offshore wildcatting possibilities. A significant oil discovery, one that could turn Cuba into an oil exporter from an importer, might prompt calls for reviewing policies that exclude the great majority of American companies from trading with Cuba. "The Canadians aren't there because they like Castro's aunt or a good Cuban coffee," remarked Jorge Piñón Cervera, a Miami-based consultant who closely follows Cuba's energy industry and a former high-ranking executive in Latin America for Amoco. "They're in Cuba because it's almost a virgin exploration province right in the backyard of the U.S." The Cubans, since introducing policies in the early 1990's aimed at encouraging investment by foreign energy companies, have increased oil production to more than 75,000 barrels a day in 2004 from 18,000 barrels a day in 1992. The discovery last month by Pebercan of Montreal and Sherritt of Toronto illustrates how companies from other countries stand to benefit from the American embargo on most dealings with Cuba. Shares in Pebercan soared on the Toronto Stock Exchange after Mr. Castro's announcement, climbing nearly 50 percent in the two and a half weeks since; thanks in part to the Cuba find, the company's stock performance ranked second in 2004 among North American energy-exploration companies tracked by John S. Herold of Norwalk, Conn., an energy analysis company. Sherritt, a diversified minerals company, is a minority partner with Pebercan in the discovery and is already Cuba's largest oil producer through exploration ventures elsewhere on the island. Its stock also appreciated after the oil find was made public, rising more than 15 percent since Christmas. A spokeswoman for Sherritt declined to comment on the discovery, citing limits on such disclosures from securities regulators. A spokeswoman for Pebercan, Cynthia Lane, also would not comment. link
Strange how Bush and his cronies could just open up all that oil to their companies (and pockets) but don't, huh glynch? As all the residents of glynchworld know, the administration is really just trying to expand their oil business. Sure doesn't make sense that they'd let those darn Canucks steal our oil! Maybe the neocons are going to let Canada get the rigs up and running and then we'll invade Canada to get it!!! If you think I'm joking, I have this article from www.utopianfreaks.com that says they heard an unnamed military looking guy at a army/navy store say that was the plan.
I'm pro Cuba, but not really pro- Castro, though he has done some good things for the poor of Cuba. I think Castro should have an election. I'm for democracy. I'mnot for an invasion or embargo and the US policy.
I don't disagree with this except I'm REALLY not for Castro (slight but significant difference when you switch the words), though he has done some good things for the poor of Cuba. He should have an election. I'm not for an invasion or embargo either. Like with China I think the US and Cuba would benefit more from 'constructive engagement' than containment.
I wonder if our pilots in Homestead Florida still get in dog fights with the Cuban Air Force. Must get awful boring for them without a cold war.
Good news for Cuba. Now that he has been reelected, perhaps Bush will stop sucking up to the Cuban community in Florida to the nth degree and begin reapproachment with Cuba. I'm not holding my breath. Nixon had the balls to recognize Red China when he didn't have to, because it was the intelligent thing to do, and was in our interest. History has shown it to have been the right decision to make, in my opinion. Their government made Castro's look like a bunch of pussycats. It's way past time to have relations with our neighbor to the south, with whom we have such a rich history, both good and bad, whether there's any bloody oil or not. Keep D&D Civil!!
Which regime is worse -- Cuba's or Saudi Arabia's? How to explain why we fixate hysterically on a non-threat like Cuba while kissing Saudi butt every chance we get, even after 9/11?
Nixon went to China to counterbalance the Soviet Union. Totally different world. I'm all for ending the embargo, as Cuba is not a threat to export their breed of ridiculousness that they once were, but lets not misunderstand why detente was offered to some on not others.
I didn't imply that Nixon should have sent a US Ping-Pong team to Havana, Hayes. Over forty years ago, it would have been political suicide, domestically, for Nixon to recognize Cuba. That was over forty years ago. I'm not the one confused about detente. Two different situations, and a completely different world, politically. Too true. There is no good reason, as far as I'm concerned, not to have done this a long time ago, but not decades ago. This would be the perfect time to recognize Cuba. I don't think Bush will, partly because I think he is an idiot. (sorry, Bush fans, I think he is an idiot! Surprised??) Also, because I don't think he has the nerve, being a weenie behind that strut of his. I don't think he can imagine himself shaking Castro's hand. It would be a great benefit to the US if he had the imagination and the courage. A pity. I'd like to be proven wrong. Keep D&D Civil!!
Who cares as long as we can suck up all the sweet black elixer we need to keep the good times rolling.
Stop with the Forest Gump history already ! Nixon didn't go to China because it was 'the right thing to do.' He did it because Sino-US reapproachment scared the crap out of the Soviets. Yes, it would be good for the US to stop the embargo of Cuba. Not because we'd gain that much from it, but because it just doesn't make sense anymore (like it did when they were importing NUKES). Bush won't do it because he's an idiot. Agreed.
As I pointed out to Glynch, since the main motivator of the administration is (so some propose) to gain control of oil, why doesn't the administration open relations with Cuba to get control of their oil? Could it be that there is NOT a vast 'neocon' conspiracy to control the world's oil supply?
Argh!! Right as being in our interest (good 'ol USA's interest) Nixon did nothing, as best as I can tell, because he was pure of heart, and eager to love the world. (ala dear Jimmie from Georgia) He was a cold, calculating S.O.B. (Great game!!! Dallas sux!!!!!) Keep D&D Civil!!
