oil rigs

For anyone who might have skipped geography class, I would like to remind you that the island of Cuba sticks out right into the Gulf of Mexico. In recent years Cuba has made arrangements with China, Russian, Spain and Italy which will permit the construction of off shore oil rigs in the Gulf. Using slant drilling these rigs will tap into the vast reserves that were assumed to belong to the US and Mexico. In addition Venezuelan has recently contracted with Cuba to build a large refinery in Cuba. Recent news items have suggested that the oil platforms may move to Brazil or Africa but the may only move a few miles into Cuban waters and start pumping oil for Russia who will then sell it to the US further increasing our dependence on foreign oil.


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Even if they lift the ban on drilling it is likely that new regulations that will not affect Cuban waters will increase the cost of drilling….things like safety equipment, insurance and other government regs. With these additional cost it may be better business to move into Cuban waters


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