Cuba claims massive oil reserves

[dipsydoodle]

The state-owned Cuban oil company says the country may have more than 20bn barrels of oil in its offshore fields - more than double the previous estimate.

Cubapetroleo's exploration manager said drilling in the offshore wells would begin as early as the middle of 2009.

Such reserves would place Cuba among the top 20 oil producing nations.

Cubapetroleo's estimates are based on comparisons to known oil reserves found within similar geological structures off the coasts of the US and Mexico.

http://news.bbc.co.uk/1/hi/world/americas/7675234.stm

[Judi Lynn]

1. What a wonderful turn of events! For Cuba to be able to start financing its own developement now,

after all these years of being the target of intense economic warfare by US right-wing interests, long condemned by the entire rest of the world, with the exception of 2 or 3 tiny countries which have succumbed to US arm-twisting long enough to vote in favor of the embargo annually at the U.N. General Assembly's Embargo Vote, would be perfection itself.

Brazil, Venezuela, Spain are already involved in working on Cuba's oil. They got there first! I hope Cuba can make all the necessary arrangements without letting in US oil companies, once the US reverses course and drops the embargo in order to start exploiting Cuban oil.