NYT: Cuba Plans to Drill Offshore Wells Banned in U.S. Waters

[DeepModem Mom]

Cuba Plans Offshore Wells Banned in U.S. Waters
By MICHAEL JANOFSKY
Published: May 9, 2006

WASHINGTON, May 8 — In 1977, the United States and Cuba signed a treaty that evenly divided the Florida Straits to preserve each country's economic rights. They included access to vast underwater oil and gas fields on both sides of the line.

Now, with energy costs soaring, plans are under way to drill this year — but all on the Cuban side.

With only modest energy needs and no ability of its own to drill, Cuba has negotiated lease agreements with China and other energy-hungry countries to extract resources for themselves and for Cuba.

Cuba's drilling plans have been in place for several years, but now that China, India and others are involved and fuel prices are unusually high, a growing number of lawmakers and business leaders in the United States are starting to complain. They argue that the United States' decades-old ban against drilling in coastal waters is driving up domestic energy costs and, in this case, is giving two of America's chief economic competitors access to energy at the United States' expense.

"This is the irony of ironies," Charles T. Drevna, executive vice president of the National Petrochemical and Refiners Association, said of Cuba's collaboration with China and India. "We have chosen to lock up our resources and stand by to be spectators while these two come in and benefit from things right in our own backyard."...

http://www.nytimes.com/2006/05/09/washington/09drill.html

[Poppyseedman]

1. I can't wait for all the pro Castro apologists running to this thread!!!

Oh' what a dilemma.