Word: tradings
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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...
...Cuba really does have 20 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...
...Five years ago, a bus route was established to ferry passengers between Muzaffarabad, the capital of Pakistan-controlled Kashmir, and Srinagar, the capital of Indian-controlled Kashmir. Mazhar Hussain's truckload of goods marked the opening of trade across the 460-mile long armistice line...
...couldn't achieve anything through fighting, hopefully we can achieve peace through trade," Hussain says, moments before his truck trundles across. Here, just beyond the Pakistani village of Chakothi, the Line of Control seems a great deal less menacing. It is marked by a small white steel bridge beneath which flows the shimmering Jhelum river, winding its way between two ranges of hills that compete in scale and beauty...
...Both sides have hailed as historic the opening of trade across the Line of Control. "It is a great day," says Sardar Attique Khan, prime minister of the Pakistan-controlled Azad (or "Free") Kashmir. "We have always demanded that both sides be allowed to interact with each other. We hope that this will allow for that to continue to happen...