The Oil Riches of Cuba | Green Energy News

October 9, 2005 – Vol.10 No.29

THE OIL RICHES OF CUBA.

There's a rumor out there that cargo ships filled with hotel and resort parts are floating around the Caribbean ready to rush to Havana and begin building the day the embargo against Cuba is lifted.

But so far the prospect of a new vacation destination or perhaps some high quality cigars isn't enough for the U.S. Congress nor the White House to end the embargo against the powerless island nation. So those mythical ships remain steaming in endless circles in tropical waters.

However, some real oceangoing vessels might join the hotel part ships in the form of oil rigs from U.S companies.

Salivating about profits earned from $60 per barrel oil, U.S. companies want to join the party of countries - Spain, China, Canada, Norway - already drilling for black gold in Cuban waters.

The long road to end of the sanctions may begin at a meeting in December of representatives of U.S. energy sector and their Cuban counterparts. The meeting, the U.S. - Cuba Energy Summit, to be held in Cancun, Mexico, was organized by Alamar Associates which organized five previous summits between U.S. business executives and their Cuban counterparts. Visit the summit at http://www.uscubasummit.org/ .