22 February 2007

Miramar Hillbillies

The Miramar Hillbillies.

Raul and Co. are bout to strike gold, “oil that is”, “black gold”, “texas tea”

Cuba's known for cigars now, but oil could change that

That's right: Cuba. The island nation long has been known for its aromatic cigars and sweet rums. But after years of limited oil production on lands around Havana and in neighboring Matanzas province, Cuba is poised for a significant expansion of its oil program into the waters that separate it from the United States. And thanks to U.S. law, Cuba's drilling partners will be working closer to Florida beaches than any American company ever could.

"Our studies . have shown there is a great potential, especially offshore," says Dagoberto Rodriguez, the senior Cuban diplomat in the USA. "Basically, we know that there is oil. The problem is just where it is."
The U.S. Geological Survey (USGS) agrees. Two years ago, after reviewing available data on the subterranean structures in the region, the agency estimated Cuba can lay claim to 4.6 billion barrels of oil and 9.8 trillion cubic feet of natural gas.

For now, any U.S. involvement remains only hypothetical. Houston oilman Antonio Szabo, president of Stone Bond Technologies, says U.S. companies likely would require greater transparency, a commitment to the rule of law and market economics in Cuba before investing significant money there.

Some in the oil industry also have long memories when it comes to Cuba. At the 1997 World Petroleum Congress in Beijing, a Cuban official approached Lee Raymond, then Exxon's chief executive, and asked in a jocular tone when the U.S. oil giant might return to Cuba. "When you give us back our (expletive) refinery," Raymond growled.

Y del Regimén……………el mismo Chantaje de siempre:

"Everyone knows how advanced is American technology," the Cuban diplomat said.
"But we are going to continue with our programs — with American companies or without American companies."

Read the USA Today article HERE


Val Prieto said...

Ive read where those crude deposits found are pretty low grade.

El Gusano said...

yup, it's high sulfur. but the Valero refineries in Aruba and Corpus were made for that. Too bad they don't do business with US. By the time they re-fit their refineries, they'll be gone.If they become energy sufficient what good is Hugo?