Word: embargoing
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Washington's own Cuba time warp got a jolt as well. The oil discovery has renewed debate over whether a crude-thirsty U.S. should loosen its 46-year-old trade embargo against Cuba and let yanqui firms join the drilling, which is taking place fewer than 100 miles off U.S. shores. Despite the Bush Administration's hard line on Cuba, Republicans in Congress have proposed legislation to exempt Big Oil from the embargo. That clamor is sure to rise - especially if Barack Obama, who is more open to dialogue with Havana, becomes the next President - now that Cuba's state...
...true, those potential reserves could make Cuba a major petro player in the hemisphere. (The U.S. has reserves of 29 billion bbl.) And it could render the embargo an even more ineffective means of dislodging the aging Castro brothers, Fidel and current President Raúl. "If it really is 20 billion, then it's a game changer," says Jonathan Benjamin-Alvarado, a Cuba oil analyst at the University of Nebraska-Omaha. "It provides a lot more justification for changing elements of the embargo, just as we did when we allowed agricultural and medical sales to Cuba" a decade...
...ultra-secret communist government, hasn't offered much more evidence than that. Chris Schenk, who as USGS coordinator in the Caribbean led the 2004 survey, agrees that Cuban geologists "are very good." But he adds, "We would like to see more data." Still, Schenk notes, because of the embargo and Havana's insular information policies, "we can't converse with the Cubans...
...billion bbl. to drill, however, it could more easily find other interested refinery investors, like Brazil. The question is whether the U.S. will want to step off the sidelines and get a piece of the action too. Kirby Jones, head of the U.S.-Cuba Trade Association and an embargo opponent, says Tenreyro's staff has been credible in the past, and he believes the new estimate is probably accurate. "So for the U.S., this becomes an 800-lb. guerrilla knocking on everybody's door," says Jones. "With that much oil, there would be the feeling that there's a real...
...company as CEO in 1999. In 2005, he was appointed to George W. Bush’s cabinet. The secretary’s visit to the IOP gave fellow Cuban-Americans an opportunity to speak with not only a government official but a fellow countryman about the continuing American embargo against Cuba and stringent regulation of travel between the two countries. “How can we show the Cuban people there’s a different way to live if we cannnot travel there to begin with?” Mara I. Rodriguez ’08 said after...