Cuba makes waves with offshore plans

[Mika]

Cuba makes waves with offshore plans
http://www.chron.com/disp/story.mpl/business/5645126.html

HAVANA, CUBA — Imagine oil rigs drilling in deep waters just 45 miles off South Florida. Refineries process the oil in Cuba and sell it across the Caribbean and beyond. Canadian and Mexican companies supply billions of dollars in equipment and services.

This could happen, as Havana invites foreign companies to explore its probable oil and natural gas reserves while Washington's embargo against the communist-led island keeps U.S. companies locked out.

South Florida is watching closely, amid debate over drilling near its shores and concerns over U.S. energy policy. Cuba is courting oil investors to slash its dependence on foreign fuels. Havana began opening to foreign investment in the early 1990s after the loss of Soviet aid, and it produces almost half the oil and natural gas it consumes. It drills mainly heavy crude on or near shore with help from Canadian companies.

But the big prize lies in deep-water reservoirs miles off the north shore in the Gulf of Mexico. By some estimates, the area holds nearly as much oil and natural gas as the coveted U.S. Arctic National Wildlife Refuge in Alaska.

Havana is forging deals with companies from Norway, Malaysia, India, Vietnam, Spain and other nations to explore dozens of its 59 deep-water blocks. Brazil's president visited in January to seal contracts for Petrobras, the global leader in deep-water drilling.

Sen. Bill Nelson, D-Fla., aims to head off those possibilities and keep drilling far from Florida. In a long-shot move, he seeks to scrap a 31-year-old accord that splits the 90 miles of water between the U.S. and Cuba and to redraw the borders.

"Soon, there could be oil rigs within 50 miles of the Florida Keys and the Florida Keys National Marine Sanctuary," Nelson wrote the Bush administration in late January.

"And, as the Gulf Stream flows, an oil spill or other drilling accident would desecrate part of Florida's unique environment and devastate its $50 billion tourism-driven economy."

-


If there were to be some oil spill it would be an accident. Bill Nelson's, DINO-Fla, desires to create new laws to protect Fla. tourism is celebrated.

On the other hand ..

The US has DELIBERATELY tried to devastate Cuba's tourism industry, but when the Cuban assembly creates laws to protect Cuba we hear chants of "Castro's totalitarianism".




-