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1 posted on 05/29/2012 12:50:07 PM PDT by thackney
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But Cuba has more at stake, and only a few more spins left of the roulette wheel. The enormous Scarabeo-9 platform being used in the hunt is the only one in the world that can drill in Cuban waters without incurring sanctions under the U.S. economic embargo, and it is under contract for only one to four more exploratory wells before it heads off to Brazil.

“If oil is not found now I think it would be another five to 10 years before somebody else comes back and drills again,” said Jorge Pinon, the former president of Amoco Oil Latin America and a leading expert on Cuba’s energy prospects. “Not because there is no oil, but because the pain and tribulations that people have to go through to drill in Cuba are not worth it when there are better and easier options in places like Angola, Brazil or the U.S. Gulf of Mexico.”

http://fuelfix.com/blog/2012/05/28/cubas-oil-dreams-yet-to-materialize/


2 posted on 05/29/2012 12:53:29 PM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

Learned their lesson in Argentina and not gonna give Fidel the opportunity to nationalize them the day after they strike a gusher...


3 posted on 05/29/2012 1:01:46 PM PDT by Buckeye McFrog
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To: thackney

Anti-capitalism has its costs.


4 posted on 05/29/2012 1:05:51 PM PDT by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
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