Will Cuba Join OPEC

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Will Cuba Join OPEC



Oil discovery could put Cuba in big league
By Kim Hjelmgaard
Last update: 1:14 p.m. EDT Oct. 18, 2008
Comments: 95
LONDON (MarketWatch) -- (Corrects to fix reported oil reserves.) Cuba's oil reserves may be substantially larger than originally estimated, according to reports. Cuban energy officials have said that the country may have over 20 billion barrels of recoverable oil in its offshore fields in the Gulf of Mexico. If confirmed, such reserves would put Cuba among the world's top 20 oil-producing nations.


Boom Boom Boom Boom's picture

I wonder what the US response will be to this story. [img]frown.gif" border="0[/img]

Pride for Red D...

They'd have to stop the blockade, knowing them.

M. Spector M. Spector's picture
M. Spector M. Spector's picture


For the long-suffering Cuban people, who have been forced to eke out a national economy virtually barred from the global marketplace, this oil find is an astonishingly lucky break, particularly coming at a time that existing oil reserves are beginning to run out, and that prices for crude are soaring.

It’s going to be fun to watch the rationalizations coming out of Washington, particularly from the hard Right, for whom Fidel Castro’s Cuba has for several generations served as a prime bogeyman in the Cold War pantheon of villains. Just as Corporate America has since the 1970s been hypocritically singing the praises of Communist China, and has been justifying economic trade and investment with that nation on the grounds that “economic engagement” will bring democracy (all the while calling for a boycott of all things Cuban), we will soon be hearing such songs about virtues of economic engagement with Cuba. - [url=http://www.counterpunch.org/lindorff10212008.html]Dave Lindorff[/url]