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Drill, Cuba, Drill
IBD Editorials ^ | September 22, 2011 | Staff

Posted on 09/22/2011 4:55:50 PM PDT by Kaslin

Energy Policy: Deep-water drilling will resume in the Florida Strait when a giant, semi-submersible oil rig en route from Singapore arrives later this fall. The bad news is it will not be American.

While U.S. oil and energy prices "necessarily skyrocket," as President Obama once said they would under energy policies that have imposed a de facto ban on offshore drilling, a massive Chinese-built semi-submersible oil rig is on its way from Singapore to a drilling position off northwest Cuba perhaps as little as 50 miles from Key West, Fla.

The long-predicted move could come as early as November, as Spanish oil giant Repsol YPF leads an international consortium that will operate the rig known as Scarabeo 9. It wants to wait until the hurricane season ends before it begins drilling.

Six wells are planned to be drilled with this rig by the various international companies that own exploration rights off the north shore of the island.

Repsol drilled the only offshore well in Cuba in 2004 and said at the time it had found hydrocarbons. It plans to drill at depths of more than 5,500 feet, deeper than the blown-out Deepwater Horizon well that spewed 5 million barrels of crude into the Gulf of Mexico two summers ago.

Normally, what are called "economic zones" extend 200 miles off a country's coastline. In some cases, there are conflicts based on resources and geography. In 1977, President Carter signed a treaty with communist Cuba that essentially split the difference and created for Cuba an "exclusive economic zone" extending from the western tip of Cuba northward virtually to Key West. Cuba then divided its side of the Florida Strait into 59 parcels and put them up for lease.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Cuba; Editorial; Foreign Affairs; Government; US: Florida
KEYWORDS: bigoil; bp; cuba; deepwaterhorizon; drilling; energy; fl; florida; gulfofmexico; ibd; keywest; moratorium; obama; offshoreoil; oil; oilspill

1 posted on 09/22/2011 4:55:52 PM PDT by Kaslin
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To: Kaslin

Michelle Bachmann talks about drilling in FL and gets demonized, while ole Jimmy gave the rights to Cuba to do it right under our nose. Kind of funny, kind of ironic, kind of pathetic.


2 posted on 09/22/2011 4:58:49 PM PDT by BRL
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To: Kaslin

You gotta sell a lot of sugar cane to afford this kind of thing.


3 posted on 09/22/2011 5:01:14 PM PDT by Repeal The 17th
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To: Kaslin

This should be obvious by now that we are under assault in our own country by people who are seeking to destroy us from within.


4 posted on 09/22/2011 5:05:02 PM PDT by HarleyD
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To: Kaslin

It is in their EEZ, I say go for it, Fidel.....now, what is happening in OUR EEZ?....


5 posted on 09/22/2011 5:05:47 PM PDT by sternup
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To: Kaslin

Michael Moore and his crowd will think this is great!!


6 posted on 09/22/2011 5:07:20 PM PDT by radioone ("2012 can't come soon enough")
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To: Kaslin

Good for you Cuber! Just stay on your own side of the EEZ.


7 posted on 09/22/2011 5:20:01 PM PDT by RitchieAprile
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To: RitchieAprile

Will some of the oil be coming from U.S. territory (underground)?


8 posted on 09/22/2011 5:23:53 PM PDT by USFRIENDINVICTORIA
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

Energy ping


9 posted on 09/22/2011 5:29:59 PM PDT by raptor22 (Join me on Twitter @gerfingerpoken)
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To: HarleyD

10 posted on 09/22/2011 5:35:25 PM PDT by BobP (The piss-stream media - Never to be watched again in my house)
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To: BRL
Kind of funny, kind of ironic, kind of pathetic.

If Bachmann wants to lift the great lakes directional drilling ban I'll stand right there on the stage with her and cheer her on. Everyplace is somebody's back yard.
11 posted on 09/22/2011 5:40:23 PM PDT by cripplecreek (A vote for Amnesty is a vote for a permanent Democrat majority. ..Choose well.)
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To: Kaslin
While U.S. oil and energy prices "necessarily skyrocket," as President Obama once said they would under energy policies that have imposed a de facto ban on offshore drilling, a massive Chinese-built semi-submersible oil rig is on its way from Singapore to a drilling position off northwest Cuba perhaps as little as 50 miles from Key West, Fla.

Bump for any kind of common sense.

12 posted on 09/22/2011 5:42:40 PM PDT by fanfan (Why did they bury Barry's past?)
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To: HarleyD

Yes, but what do we average people do about it?


13 posted on 09/22/2011 5:45:59 PM PDT by fanfan (Why did they bury Barry's past?)
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To: cripplecreek

After the Asian carp screw up the great lakes an oil spill may not make much difference.


14 posted on 09/22/2011 5:46:06 PM PDT by BRL
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To: BRL
As it was, Congress passed the Magnussen Act which established the 200 mile EEZ for fishing so all the maritime borders were set. Canada, Mexico, Russia, Cuba

That all led to LOST and those original borders were retained.

The other side of the coin, if it were not for the Cuban embargo, US oil companies would be developing the North Cuban Basin.

15 posted on 09/22/2011 5:53:17 PM PDT by Ben Ficklin
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To: Kaslin; Bigun; TWfromTEXAS; stevie_d_64
Ping for possible interest: Fidel drilling on our doorstep.
16 posted on 09/22/2011 10:36:26 PM PDT by lentulusgracchus (Concealed carry is a pro-life position.)
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To: radioone
Michael Moore and his crowd will think this is great!!

I saw Moore on Charlie Rose a couple of nights ago. He was flogging a new book. Charlie really does let some creeps on his show, and this is a big one. Mewl, mewl, hateful Republicans, mean cold-icy-hearted-throw-Granny-in-the-snow, meeooww, whine, cry, complain .....

You have to wonder, does Moore believe half of his own BS?

17 posted on 09/22/2011 10:42:53 PM PDT by lentulusgracchus (Concealed carry is a pro-life position.)
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To: USFRIENDINVICTORIA

You betcha...They’re going to “Bend it like Becham”...

Proving it will take some expensive and intrusive monitoring...Something this current administration WILL NOT do...

And besides, what the hell would we do about it anyway???

It’s a Chinese rig, operated by the Spaniards, for the Cubans...Ain’t no way we have any cover or clout to do anything about their drilling indescretions in the first place...No matter who is driving the boat in this country...


18 posted on 09/23/2011 4:15:07 AM PDT by stevie_d_64 (I'm jus' sayin')
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To: JulieRNR21; kinganamort; katherineisgreat; floriduh voter; summer; Goldwater Girl; windchime; ...

Florida Freeper


19 posted on 09/23/2011 6:23:10 AM PDT by Joe Brower (Sheep have three speeds: "graze", "stampede" and "cower".)
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To: stevie_d_64

The U.S. needs to get some straws into that milkshake too. (A reference to “There Will Be Blood”)


20 posted on 09/23/2011 9:29:23 AM PDT by USFRIENDINVICTORIA
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To: USFRIENDINVICTORIA

EXACTLY what I was going to say.

It is not a case of them drilling “cuban” oil from oil that is inaccessible to anybody but cuba.

They got a straw down there sucking up all the oil - and if we think we can drill in OUR area, a few years later (or sell it as the idiot thought he could in “There Will Be Blood”) we will get laughed at - because all that sweet “milkshake” will be gone.

“I DRINK YOUR MILKSHAKE! I DRINK IT UP!!!!”


21 posted on 09/23/2011 9:35:26 AM PDT by allmendream (Tea Party did not send the GOP to D.C. to negotiate the terms of our surrender to socialism.)
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