Exploratory Oil Drilling Done Off Cuba

[ringmastery]

http://biz.yahoo.com/rb/040725/energy_cuba_repsol_1.html

HAVANA (Reuters) - Drilling of an exploratory well in Cuba's virgin Gulf of Mexico waters that could make the Communist nation an oil exporter and undermine the U.S. embargo has been completed, a senior official said.

Work on the well by Spain's Repsol YPF (Madrid:REP.MC - News) began in June and captured the attention of the industry and governments due to its potential economic and political consequences.

"The drilling has ended and the Spanish company is assessing the results. We don't know if there is good quality oil yet. We expect to be informed in two weeks," the Cuban official, who spoke on the condition he was not identified, said on Saturday evening.

The oil industry is watching closely the first ever well sunk in Cuba's 43,000-square-mile exclusive economic zone in the Gulf, which may hold large quantities of medium-grade crude.

A commercially viable find could transform the cash-strapped island from oil importer to petroleum exporting nation, adding pressure on the United States to lift its four-decades-old trade embargo against President Fidel Castro's government.

[BayCityProgressive]

1. this isgreat news for the Cuban people!

But you know they will nationalize the oil and Bush will want to invade. We can't have countries opposing the "free" market you know.

[progressivebydesign]

2. This explains Bush's intense interest in Cuba.. N/T

[oneighty]

3. Yes

Indeed

180

[PsN2Wind]

4. If they have much of a reserve

we would probably be forced to liberate those poor Cubans from Castro and his "oppressive regime".

[mom cat]

5. That is my fear too! Oil, diamonds, minerals etc have stimulated

the greatest disparities in wealth in the countries so "blessed". I hope that Castro can hold down the fort against the marauding hordes.

[Gloria]

6. As a daily listener of Radio Havana, I heard a lot about this story

a few weeks ago. If this pans out, Cuba's economy will come off the respirator. They have done well since Russia's money dried up with frugality and setting their priorities. They see tourism as a major source of cash now. They have been restoring the old buildings and the lack of traffic enhances the feel of the place. There was a write up in our local paper by a woman who just visited...there are tour outfits that organizes tours, so Americans can go.

A couple of days ago they were reviewing the 400 page doc that includes the new restrictions on families which has people in Miami pissed. But beyond that, it's very scary because it talks about privatizing the whole island....ruining their cradle to grave health system. It shows arrogance and ignorance....kids do go to school, but the doc states that there's poor education....Cuba has practically full literacy, for god's sake!! This enclave of 11 million is full of smart, well-educated folks who shouldn't be subject to this sort of interference. They are actually capitalistic with a strong social support system.......my, how evil!! When Castro is gone, they should be able to figure out how to proceed, rather than having us impose every damned corporate scam on them which will probably ruin their unique culture.

I have fallen in love with the Cuban people via Radio Havana (also, I had an uncle, born on Majorca, who grew up in Cuba and he visited again and brought back items that I still have since I was a kid back in the 50's).

Plus, they do very good straight news and also tell you when they're editorializing.

PS...They have a reporter going to the Democratic Convention who was in Philly last week talking to a prof from Temple...it was excellent...the reporter calls in live....

[Judi Lynn]

7. Amazing post, Gloria! I have read so many of your posts before,didn't know

you had a Cuban grandfather.

Your information on Radio Havana couldn't be more welcome. I've had a feeling they treat news much more respectfully, after hearing Americans who've been to Cuba come back saying how wonderfully well-informed Cubans are, even down to the point they know names of American columnists in American newspapers!

The point of informing the listeners when they are doing editorials really strikes a raw nerve here. What we're getting here is conservative editorializing with only the thinest veneer of news reference. What a shame!

Thanks for the small avalanche of extraordinary info.

[Sugarbleus]

10. Gloria, thanks so much for your input on this. I am so

fascinated with Cuba. It's past, culture and future. My gut tells me we need to stop oppressing them with our stupid little embargos etc.

We trade with China, so why not Cuba?

I hope you'll keep us informed about events surrounding Cuban/ American issues. I try to catch anything I can that passes my way.

[ChavezSpeakstheTruth]

14. My fiance is driven to visit Cuba. How can we do it?

From your post it seems like the thing to do to help out - go spend our money there. What do you think?

[guajira]

21. Not as Easy as it Used to be

When Clinton was in office, Americans could travel to Cuba thru 3rd countries (Mexico, Canada, Bahamas, Jamaica, etc.) without repercussions.
But now B* is fining and arresting Americans - including a retired Social Worker who went to Cuba on a bicycle tour! B* is even getting names of Americans on Mexican flights, supposedly for terrorism, but we know what he is up to!

I'm sure there are ways to get there with some effort and creativity!

[TahitiNut]

8. Who put our oil under their water?

:dunce:

[daleo]

9. If they find oil it could get ugly

We will have an idea of how this has gone by the level and intensity of anti-Castro propaganda in the press. If we hear he has been throwing babies out of incubators or putting people into wood chippers, we will know that a monster oil field has been found.

[Judi Lynn]

12. Looking even stranger in this article I just saw:

Q I saw that a Spanish energy company had found a well off the coast of Cuba and that there could be some policy changes on the embargo to get into that well. How much does the industry affect policy on any level?

A That’s an interesting political question. I’d say that if they continue to have success there and we continue to rely on OPEC and other foreign countries we’ll definitely have to look at opening other avenues and the eastern gulf.
(snip)

http://www.theadvertiser.com/business/html/B37DF596-B3D4-4FC6-8057-F266C96CEE1C.shtml
(From a Lafayette, Louisiana newspaper article on oil industry "issues." Only mention Cuba in the final two paragraphs.
Sounds as if lotsa people are watching very closely, probably licking their teeth in anticipation.)

[daleo]

17. "Opening other avenues"

There is a phrase that could cover a lot of ground. I like your picture of Cheney on the Sedgeway - somehow he manages to look evil just riding a Sedgeway.

[number6]

11. Bush ; isn't there a Cuba - Al-Qaida link.....?

:nuke: invade ....

[KansDem]

18. Either that, or Castro will have intentions to pursue a WMD program...

particularly if oil is found.

[Judi Lynn]

13. More Cuba news.

July 25, 2004, 9:48PM

Mexico, Cuba end diplomatic dispute
The allies send ambassadors back to their posts after a three-month spat
Associated Press
ENDURING TIES
• Mexican ally: Mexico was the only Latin American country to maintain ties with Havana after the 1959 Cuban revolution and has long been the island's strongest ally in the region.


MEXICO CITY - The ambassadors for Cuba and Mexico returned to their posts Sunday, marking the end of a three-month diplomatic spat between Fidel Castro's government and its once strongest ally in Latin America.

The rift climaxed May 2 when Mexico asked Cuban Ambassador Jorge Bolanos to leave, accusing Cuba's Communist Party of holding unauthorized political meetings in Mexico.

"I am supremely happy to return to Mexico, after a brief and involuntary absence," Bolanos said.

"Cuba and Mexico are two nations that geography made neighbors, and that our histories and heroes, both Cuban and Mexican, have united forever."
(snip/...)

http://www.chron.com/cs/CDA/ssistory.mpl/headline/world/2700945
(Free registration required)

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This is the second time after _Bush stole the White House when Mexico and Cuba have argued, after so many, many years of close cooperation.

Very gratifying to see Vicente Fox's government can't succeed in implementing _Bush's wish to isolate Cuba completely.

[Ganja Ninja]

15. Watch how fast we exempt oil and oil support services from ...

the embargo if Cuba finds oil. The embargo's OK as long as it doesn't hurt the BFEE's bottom line. If it hurts farmers or tourists or the Cuban people or any non oil business that's too bad, tuff cheese. If there's a dime in it for the Bush's then it has to be lifted ASAP. Sacrifice is for everybody, everybody but the Bush's that is.

[colonel odis]

16. if they find a substantial amount of oil there,

castro's done. that oil will be in cheney's fat, sweaty little hands before you can say "halliburton."

[mac56]

20. I disagree.

The Cuban people have hung tough this long. Don't doubt that they'll remain in the driver's seat.

[colonel odis]

22. i hope you're right. i don't want to underestimate the cuban people.

but i don't want to underestimate the greed of the scumbags who've already launched one illegal war this century.

[ElsewheresDaughter]

19. i hope it comes to fruititiion for the Cuban people