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Untapped Oil Could Lube US-Cuba Ties

By Neal Colgrass,  Newser Staff

Posted May 16, 2009 7:25 PM CDT
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(Newser) – Oil trapped deep in the Gulf of Mexico could help ease the US-Cuba trade ban and decades of strained relations, the Washington Post reports. With 5 billion to 20 billion barrels of crude lying untapped in Cuba's territorial waters, some experts argue it's time for US companies to help drill it. But Washington's JFK-era trade ban stands in the way. It would "be a sea change, literally and figuratively, for the Cubans," one US professor said.

American companies aren't lobbying for the black gold, which international companies are already drilling or seeking. And several lawmakers are wary of dealing with, or financially supporting, Cuba's Communist regime. Environmental concerns have also arisen. "They'd be drilling right in the Gulf Stream," said Florida Sen. Bill Nelson. "There would be a monumental disaster."

Few oil tankers arrive at a refinery March 3, 2003 in Havana, Cuba.
Few oil tankers arrive at a refinery March 3, 2003 in Havana, Cuba.   (Getty Images)
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.   (Getty Images)
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.   (Getty Images)
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.
An oil platform in the Gulf of Mexico is shown in this aerial photograph October 1, 2004.   (Getty Images)
Cuba's President Raul Castro, left, and Brazil's President Luis Inacio Lula da Silva speak in Havana, Friday, Oct. 31, 2008.
Cuba's President Raul Castro, left, and Brazil's President Luis Inacio Lula da Silva speak in Havana, Friday, Oct. 31, 2008.   (AP Photo/Javier Galeano)
Cuba's President Raul Castro, right, shows Havana's bay to Brazil's President Luiz Inacio Lula da Silva, Friday, Oct. 31, 2008.
Cuba's President Raul Castro, right, shows Havana's bay to Brazil's President Luiz Inacio Lula da Silva, Friday, Oct. 31, 2008.   (AP Photo/Vladimir Molina, Prensa Latina)
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COMMENTS
Showing 3 of 10 comments
Rob
May 18, 2009 12:44 PM CDT
For christ's sake, STFU.
Rob
May 18, 2009 12:43 PM CDT
They are not simply communist; they are being punished for missile placements. And let’s face it, political and economic expediency requires dealing with China, a permanent member of the Security Council with UN veto power, while Cuba is considerably less important. It's a standard cost / benefit analysis.
Rob
May 18, 2009 1:29 AM CDT
The Gulf Stream would carry spilled oil all the way to Ireland and cause disaster the whole way, yes.
World • Money • Politics

 
Fidel Castro • Cuba • Raul Castro • Gulf of Mexico • oil exploration • oil drilling

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