Tuesday, March 17, 2009

Cuba's Oil Reserves Increasing

The land of 1950's era Packards is hitting oil delight:

Cuba’s oil reserves in its portion of the Gulf of Mexico “continue increasing,” Agence France- Presse reported, citing Yadira Garcia, the island nation’s minister for basic industries.

The Caribbean country’s future oil reserves are most likely to be found in its area of the gulf, which measures 112,000 square kilometers (43,000 square miles) and is divided into 59 oil blocks, AFP reported, citing Garcia, who spoke at a geological sciences conference in Cuba.

Cuba may have 21 billion barrels of probable oil reserves, including onshore and offshore discoveries, AFP said, citing conference participants

Ghawar Guzzler point: While few defend the reprehensible acts of communism, it hasn't stopped the U.S. from developing trade relations with China, or buying oil from other despotic regimes. What's wrong with dumping the trade embargo with Cuba? If we'd rather buy oil from other repressive regimes, then China, India or Russia will be more than happy to help Cuba develop its jackpot.

- Brewskie

No comments:

Post a Comment