Cuba's Quest for Liquid Gold

Cuba has been stuck on the idea of drilling for oil for years now. However, due to the embargo placed on the island a half century ago has slowed their process. Cuba's even recently tried to sell some U.S. oil execs on the idea during the Bush Administration. However, former President G.W.B. stopped the meeting that was taking place in a Mexico City hotel on the basis that the hotel was a part of the U.S. based- Starwood chain. The embargo digs even deeper by prohibiting American energy companies, consumers, and even foreign based energy firms using US drilling technology from participating with Cuba. Though there is a potential upside to lifting the embargo, politicians have yet to budge. The proximity of Cuba makes transporting oil to the US inexpensive. The act would even denounce the embargo itself. The embargo is on the basis that Cuba is a minor financial player on the world stage. Striking black gold would destoy that notion completely. Many international drilling and oil companies have taken to the Cuban portion of the Gulf of Mexico just 45 miles away from the shores of Florida. While some worry about the possibilty of oil washing onto the shores of Florida and east coast beaches, others have taken into consideration the idea of playing ball with Cuba. for more on the Cuban Oil, please check out http://www.usnews.com/articles/news/energy/2009/03/03/why-cubas-dreams-of-major-oil-discoveries-might-come-true.html?PageNr=3
by: Ricky Brown