Castro's revenge: The Cuban oil rush
Posted: 07 Mar 2007, 15:40
http://money.cnn.com/magazines/fortune/ ... 2007030709
Ah, I think Alanis Morrissette wrote a song about this
Ah, I think Alanis Morrissette wrote a song about this
Just as the US does an impression of Cuba maybe?! Sometimes you just have to laugh at what life throws up...Sometime later this year, less than 70 miles from Florida, a consortium of Spanish, Indian and Norwegian companies will likely start drilling for oil. It could mark the beginning of a Cuban oil rush - one that American oil companies won't be able to join, despite their proximity to the action.
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Call it Castro's revenge. With Cuba's leader sidelined by illness and its economy in shambles, a major oil find - estimated by the U.S. Geological Survey at 4.6 billion barrels, nearly two-thirds the amount in the Arctic National Wildlife Refuge - could give Havana a new lease on life.