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278 comments on DrumBeat: July 26, 2007

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Gunga2006 on July 26, 2007 - 8:08am Permalink | Subthread | Comments top

From the RigZone article linked above.
"Rep. Mark Udall (D-Colo.) has introduced legislation that would let U.S. oil and gas companies drill off the coast of Cuba."
No mention of whether the Cuban government or it's people will have a say so in whether US oil and gas companies drill off the Cuban coast.

I hope we consider saving some for our children and granchildren.

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InJapan on July 26, 2007 - 8:27am Permalink | Subthread | Parent | Comments top

No mention of whether the Cuban government or it's people will have a say so in whether US oil and gas companies drill off the Cuban coast.

My understanding is that the inverse problem Udall is concerned about.

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oilmanbob on July 26, 2007 - 11:51am Permalink | Subthread | Parent | Comments top

Gunga2006,

Cuban energy policy isn't the problem. The US trade embargo is, and it's lobbied by the Cuban-Americans in southern Florida who hate the fact Castro freed the serfs in the sugar fields and redistributed their lands.

US companies can't bid on the lease blocks, US companies can't buy the production, US service companies can't get the service work, even though we're closer than any other nation except Jamaica.

It also shows the potential of the eastern Gulf of Mexico for production.

Its really strange that our country lets many immigrant groups lobby against the interests of the rest of us, because its not just the Cubans. Its the Israeli's against the other peoples of Palestine, the Sein Fein against the Brits , the Fallon Gong against China and I'm sure others. People need to give up nationalism for other countries or move to their real home.
Bob Ebersole

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Gunga2006 on July 26, 2007 - 1:22pm Permalink | Subthread | Parent | Comments top

My point is that someone should ask the Cubans who they think should drill in their territorial waters.
The last time I checked they were a sovereign nation. Even if the US laws are changed , US companies may be shut out because THE CUBANS HAVE A SAY IN THE MATTER ALSO.

Regards,
Gunga

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oilmanbob on July 26, 2007 - 3:22pm Permalink | Subthread | Parent | Comments top

Gunga2006,

Of course they are a sovereign nation. But, they haven't banned US corporations from doing business in Cuba. Its the 35 year old embargo by the US government that's the problem.

Foreign subsidiaries of US corporations do business there all the time. Canadians do business there, Mexicans do business there-its only the United States who allows the great-grandchildren of the slave owners of Cuba to direct our foreign policy.

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hifisoftware on July 26, 2007 - 4:05pm Permalink | Subthread | Parent | Comments top

I think the point that everyone makes is that whether Cuba will want to participate in such a play. There is no talk of removing all of sanctions. Removing sanctions in oil sector only will benefit US only. I would image that Cuba can get the money that it needs for oil field development from many other countries (Europe, Russia, Venezuela, China,...), none of which has trade sanction against Cuba. So I share the skepticism in this plan. It can only work if US will remove all of sanction, then Cuba might reciprocate by allowing US companies to explore it's oil. Otherwise Cuba will simply loose.
Say Cuba holds no grudge and simply asks that any company that invests a dollar into it's oil industry has to invest another into oil processing industry. US would be automatically excluded from such offer.
Such partial sanction removal is useless.

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