GOP Claims China Drilling Off Cuban Shores; Actually, That's False
| Thu Jun. 12, 2008 11:25 AM PDT
To gin up support for off-shore drilling, the Right has an ace up its rhetorical sleeve: the Chinese in Cuba. Here's Vice President Cheney.
"[O]il is being drilled right now 60 miles off the coast of Florida. We're not doing it. The Chinese are in cooperation with the Cuban government... Even the communists have figured out that a good answer to high prices is more supply. Yet Congress has said... no to drilling off Florida.''
"Even the communists" is a nice flourish. Mix the red scare with the yellow scare and get Uncle Dick's own Orange Scare. Guaranteed to freak out Americans concerned about their energy security. Here's House Republican Whip Roy Blunt (R-MO), piling on:
"Even China recognizes that oil and natural gas is readily available off our shores; thanks to Fidel Castro, they've been given a permit to drill for oil 45 miles from the Florida Keys."
Adds House Minority Leader John Boehner (R-OH), "Right at this moment, some 60 miles or less off the coast of Key West, Florida, China has the green light to drill for oil in order to lower energy costs in that country."
Problem is, that's all false. Like, completely false. China is not currently drilling off the shores of Cuba; in fact, it doesn't even have a off shore drilling contract. What is does have is a permit to drill on Cuban land. "China is not drilling in Cuba's Gulf of Mexico waters, period,'' Jorge Piñon, an energy expert at the University of Miami's Center for Hemispheric Policy, told the Miami Herald. In fact, it is not yet drilling on Cuban land, either. The Herald added:
Continues Below
Continued From Above
China's Sinopec oil company does have an agreement with the Cuban government to develop onshore resources west of Havana, Piñon said. The Chinese have done some seismic testing, he said, but no drilling. Western diplomats in Havana told McClatchy that to the best of their knowledge there is no Chinese drilling offshore.
The Congressional Research Service also debunks Republican claims:
"While there has been some concern about China's potential involvement in offshore deepwater oil projects, to date its involvement in Cuba's oil sector has been focused on onshore oil extraction in Pinar del Rio province through its state-run China Petroleum and Chemical Corporation. (Sinopec)"
In a Democratic-controlled Congress, off shore drilling is not going to expand any time soon. But the war against dishonest bombast never stops.
(Photo of oil rig by flickr user Bryan Burke used under a Creative Commons license.)
Comments
Speaking as a Floridian I don't think the GOP stands a chance in hell of even getting a majority of Florida Republicans to support off shore drilling in the state and no amount of wild accusations is likely to change that. Isn't all this new exploration BS what got us to $4 a gallon gas to begin with? I mean look at the facts, US oil discoveries peaked in the 1930s for crying out loud! Then US production peaked about forty years later in the '70s, which was just after world oil discoveries peaked. Now forty years later the world is producing less oil every year, and those that predicted both US and world peak oil have been proven correct a second time and its long past time to seek an alternative to oil because a wild goose chase will only distract us from the real solutions.
According to Reuters (Jun 10 2008), UAE oil minister Mohammed al-Hamli thinks there's plenty of oil, so no reason for China to "figure out a good answer":
'"There is no shortage of crude oil in the market. Inventory levels are huge," Hamli said after speaking at a conference in Canada.
On Friday, U.S. crude jumped $10.75 to a record close of $138.54 a barrel, capping a two-day surge of more than $16 and stunning analysts who saw little fundamental reason for the spike.
"If you look at prices moving by $10 a day, that doesn't make sense," Hamli said.
"That's crazy."
The UAE has spare capacity and is "quite happy" to supply more oil if called upon, he said.'
I've read elsewhere that it's U.S. speculation, alone, driving up prices. Frankly, that sounds reasonable, to me. Also reasonable: That U.S. oil companies are growing ever-fatter off the current surge in prices, and are in no hurry to take the edge off.
There is an 85 yr. old won the REPUBLICAN nomination against Max Baucus [D-MT] that wants to nationalize oil and gas and socialize medicine, plus have a parlimentary govt. It certainly has to be Republican rhetoric, but I do agree that it is a great idea. If oil and gas were nationalized there would be no running the price up to make CEO's wealthier.
My guess is spec traders like Soros, Goldman and Pickens have made 100s of millions buying oil futures. There is no oil shortage. Pay $4+ a gallon and you can have all you want. A permit is the first step to drilling. Cuban is 90 miles form the US. When China starts drilling in Cuba there will be drilling 90 miles offshore. Dems and Reps stop twisting the facts!!!
Submitted by Ken Moyes (not verified) on Fri Jun. 13, 2008 8:52 AM PDT.
I read your quotes, as found in the Washington Times recently - Cheney oil comment attacked: H. JOSEF HEBERT
Originally published 06:57 p.m., June 12, 2008, updated 06:55 p.m., June 12, 2008, with interest and your posting on my blog under an unrelated piece. You did fail to provide the quotes that the leases from Cuba (China not involved) are for off shore exploration.
Whether Cuba's proxies are drilling, YET, or exploring off shore, the impact is the same. A foreign power can and might very well help themselves to oil off our coast that we will not allow our domestic companies to touch. We then have to ask why will we not touch it?
Missed quotes from Washington article indicated above:
"Cheney's office said in a statement to The Associated Press that the vice president had erred. (Drilling had been reported in the NY Times, CNN Money, and The Washington Times since May 2006)
'It is our understanding that, although Cuba has leased out exploration blocks 60 miles off the coast of southern Florida, which is closer than American firms are allowed to operate in that area, no Chinese firm is drilling there," according to the statement...' (Cheney)"
"Cuba clearly is interested in developing its deep-water oil resources, estimated at more than 5 billion barrel, including areas within 60 miles of Key West, Fla., energy experts said.
Jorge Pinon, a senior energy fellow at the University of Miami specializing in Latin America, said 'Cuba has awarded OFFSHORE oil leases, or concessionary blocs, in its offshore waters to six oil companies _ none of them Chinese _ and soon may announce an agreement with Brazil's state oil company, Petrobras.'(Pinon)"
Submitted by JimT (not verified) on Fri Jun. 13, 2008 10:14 AM PDT.
Lets not blame the environmentalist, as in the past the most likely candidate should be Clinton
;-)....right?
The environmentalists are to blame eh?...Come on Aaron with the labeling complex. Do you ever think that it's our urge for survival that is causing the price elevation. Things have to change for sustainability reasons. [deleted] or get off the pot. Ride a bike.
Capitalists in the United States have been so concerned that the United States citizens will see the way communal resources are used in Cuba and decide that capitalism isn't so good for the citizenry of the United States, because that is the only reason the U.S. government doesn't allow U.S. citizens to go back and forth to Cuba. Capitalism can't stand the idea that the Cuban government protects the rights of their people, while in the United States capitalism only protects the rights of the wealthy capitalists.
Communist China hasn't blackball Cuba. The United States hasn't blackballed communist China. It is strange that Cuba would be blackballed while Communist China is not.
If China drills and finds oil in Cuba, that will mean Cuba and China have cheap oil, while gasoline in the United States goes up past $10./gal. by next spring. I doubt if the United States will get oil from China; they only borrow money from China.
It doesn't seem to me to have been a good thing for the Capitalists of the United States to have blackballed Cuba with Cuba being so close to the United States. Wealthy capitalists can afford $10.-$20./gal. gasoline, the only ones that are getting hurt is us, the 70% MAJORITY COMMON POPULATION.
Perhaps we need to consider another form of government that considers all the people, instead of only the wealthy capitalists. I think it would be a good idea to nationalize oil and gas, as well as all natural resources, because privatizing them isn't working well for the citizenry.
Guys - the title of this Blog is "GOP Claims China Drilling Off Cuban Shores; Actually, That's False", is it not? Yet, the article i linked to HERE is dated back from 2005 and claims that Cuba and China entered into an agreement in which these two countries will "jointly produce oil on the Caribbean island, the Cuban government announced"...
Does anynone want to comment on this or are you satisfied with just attacking America as a "capitalist" country where only 30% of Americans (how you get that figure idk, but good guess I suppose - did ou take your own survey?) are wealthy"...
BTW, America IS a capitalist country, like it or not. We will continue to be a capitalist country even if socialist Obama gets elected (although admittedly Obama and a Democratically controlled House and Senate will push s much closer to the socialist state you so greatly desire).
Thank you Mao for ur level-headed response. I really appreciate the fact u stay away from name-calling on a personal level which usually comes when two sides don't agree and finally, one side feels cornered and can only defend themselves with childish arguments.
i know i would describe myself as a capitalist. however, with that being said, i know that any system in and among itself (capitalist, socialist, communist, etc..) is not going to work 100% of the time.
a quick def. of Zionism is found HERE. As i (admittedly) quickly scanned the definition of zionism, the one sentence that stuck out was "Certain individuals and groups have used the term "Zionism" as a pejorative to justify attacks on Jews"...
With this being said, would u say u are actually anti-semitic, or u just dont want to be like israel?
Personally, i would not want to be like them, or any arab states, OR china or cuba...
i think our system is far from perfect - from everything from welfare to healthcare - but i kinda like the open market of free thinking and the IDEA of hard work should be rewarded and not punished (more taxes on the wealthy).
Thank you again Mao for yourr thoughts - much appreciated!
Submitted by Ken (not verified) on Sun Jun. 15, 2008 11:59 AM PDT.
This is not an all or nothing proposition. We can have domestic oil and renewable energy. The simple announcement that the government will allow unlimited drilling on the east coast and west coast continental shelves and all federal land, will drive speculation down. We have enough domestic oil reserves to sustain us for 30 years without importing oil. Right now we are sending nearly $500,000,000,000 to foreign oil producers annually - this is destroying our dollar and making all imports cost more, including food. Renewable energy is not ready to fully power this country. Any plan to FORSAKE domestic drilling and to move toward 100% renewable energy, severely pinches the lower middle class and the poor financially. Do both!
I agree with you Ken - 100%!!!
Let's put aside are differences - liberal, moderate, conservative, whatever - and stop sitting on our hands!
and please, i do not want to destroy our environment - i think we have the technology to SAFELY drill just about anywhere.
although i want to announce drilling here in the USA, i also think we are smart enough to come up with alternative energy.
i still think there is a real threat of terrorism to the US and other countries, however, does anyone think about the fact that china and the likes (mainly china) produce a good bit of everyday items we use? and im not just talking the happy meal toys from McDonald's!....what would happen if china said "no more - we are not importing ANYTHING to the US from this day"..we just couldnt start a manufacturing plant up the next day..we would be at their mercy...Lord, we've sold our $oul for the dollar (a downfall of capitalism i suppose)
Pardon my cynicism Mao lover, but I don't consider tyrants that claim to rule on behalf of the people while committing acts of genocide against them to be liberal. Its the same self righteous BS that allows right wing jack @$$es in this country to claim to be setting everyone free of the tyranny of 'big bad government' while helping the richest and dumping on the other 95%, the only difference is that its the party insiders getting the kickbacks in red China while the skies fill with ash and the peasants work for 12 hours a day for 5 cents an hour. It is the (Communist) Party's Republic of China after all, and damn the rest because any one who thinks different, thinks they could possibly know better the might party, can either keep their mouth shut or disappear permanently. Truly the one great superiority of the communist state is that there is no need for media consolidation and false propaganda because the party is the media and the state and the dissenters in those lands can be executed on mass and sweep under the rug with little more than a peep. Sorry pinkos but in the humble opinion of this liberal if there ever is a true revolution in the world, a populist revolution, the tyrants of pure market capitalism and communism would rot away in the same jail cell for their joint crimes of lying to and exploiting the masses while serving only themselves. Of course the Communists would have to do double time because taken together Stalin, Mao, Castro and Castro's boy Che Guevara (who was after all called the butcher), killed tens of millions, while the great market radical of modern times Pinochet didn't come close to that kind of butchery despite his his success at exterminating dissenters in his own country.
Michael - so you're saying that Socialism is the way we need to go here in the US?
and 'scuse me for laughing, but i assure u, i am no "Mao lover"..im just trying to get into a discussion w/o name-calling and Mao was respectful enough to do that.....not the same as loving mao though
and also, is everyone on the right(wing) a jack@$$ as u say? have u met them all? or painting with a broad brush?
Did I ever mention socialism? I have no issue with those that are naive enough to believe that an utterly unregulated market will save us all, aside of course from that fact that supply side economics (or Regonomics/Milton Freedman's evil baby what ever you want to call it) has obviously destroyed the middle class in the past thirty years or so. My main point was simply that no sane liberal would look to a Communist country for any kind of inspiration. The main evil doers of capitalism today seem to be part of the Bush administration, but of course Milton Freedman and some of the his friends who helped Augusto Pinochet have likely earned themselves a special place in hell (if you believe in that sort of thing). There sure are a lot of people who want to give to the rich at the expense of the rest, the ones at the top are the real problem (the main right wing jack @$$es) and the rest are merely ignorant, of course if ignorance were a crime no one in the world would be found innocent.
As for economics the government can never totally run everything successfully because let's face it true socialism doesn't work. There must be some amount of smart regulation if any one wants to trust corporations at all, and there must be greater provision for protecting workers and their rights (especially the right to organize) if the average American is ever going to do any better. It would be nice to guarantee people a cut for their productivity, after all productivity has gone up 76% in the past thirty years and real wages are virtually flat (as the person on Bill Moyers this week pointed out). It sure would be nice if workers were given pay and stock options at even a hundredth of the rate that CEOs are. I have no idea why it's considered 'punishing' people for their success when you merely ask people to pay based on their ability, would you prefer aristocracy and a class based society? Also are CEOs truly 400 times more productive than the average worker? Have they just gotten that much better than the rest of us in the past few decades, I mean what with them going from earning less than 100 time what the rest of us do to over 400 times have the rest of us all become retarded? Its injustice pure and simple if you ask me, the rise of the rich has only raised up the rich above us all but in when the middle class rose they lifted up the whole country.
Frank, Steven Edwards, The Ottawa Citizen
Published: Wednesday, January 30, 2008
UNITED NATIONS - Louise Arbour, the United Nations high commissioner for human rights,( a former Chief Prosecutor of the International Criminal Tribunals for the former Yugoslavia and Rwanda) has thrown her support behind a major pan-Arab human rights charter that commits to the elimination of Zionism.
In a statement from her Geneva headquarters, the former Chief Prosecutor of the International Criminal Tribunals for the former Yugoslavia and Rwanda , welcomes the Arab Charter on Human Rights, which will come into force in mid-March.
"Regional systems of promotion and protection can further help strengthen the enjoyment of human rights, and the ... charter is an important step forward in this direction," Ms. Arbour says. The charter's preamble speaks of "rejecting all forms of racism and Zionism," alleging they violate human rights and threaten international peace and security.
Article 2 of the 53-article document says "all forms of racism, Zionism and foreign occupation and domination" should be "condemned and efforts must be deployed for their elimination." London review of books, 23 march 2006
The Israel Lobby
John Mearsheimer and Stephen Walt
Thanks in part to the influence Jewish voters have on presidential elections, the Lobby also has significant leverage over the executive branch. Although they make up fewer than 3 per cent of the population, they make large campaign donations to candidates from both parties. The Washington Post once estimated that Democratic presidential candidates 'depend on Jewish supporters to supply as much as 60 per cent of the money'. And because Jewish voters have high turn-out rates and are concentrated in key states like California, Florida, Illinois, New York and Pennsylvania, presidential candidates go to great lengths not to antagonise them.
Michael -
ur correct in saying u never mentioned being found of or ascribing to socialism....i was merely trying to figure out which angle ur were coming from...
you can include me as one who is ignorant if you want, but i strive each and every day to financially better myself thru hard work, patience, education, and many other ways to make my life better for me and my family. the one thing about the american system is there is hope u can succeed - it has been proven by many in the past, present and will be in the future.
i dont mind "giving" to the evil rich (are all rich evil? {what is the exact monetary figure constitutes a "rich" person})...i have never gotten a job - a least a decent paying one - from a poor person.
here is the way i look at things from a personal stand point:
the gov't takes more taxes from my company. in turn, my company has less or no money to give me when i ask for it (or get a 1 yr review). i therefore get ill at my company and DEMAND i get more $$. my company decides 1 of 2 situations:
1. they like my nerve and say "OK" kid, u got it!! i walk away happy and love my new paycheck (until my wife gets a hold of it of course). however, my company is not making any more money, yet they are giving me MORE. this makes my company lose money. since my company survives on profit MARGINS they cannot compete in an open and free market. with 0,zilch,nada left in their bank acct, my company is forced to close their doors.
2. I demand a raise and my company explains there is no way they can afford to do this b/c they are losing money or profit margins are down (or stagnate). i then post my resume on Monster and get a better job.
do you strangehold a company via the gov't and demand they hand over more money (taxes)?
Frank, taxes are not the sole issue here, higher minimum wages and the increase in pay for an increase in productivity are among the central factors lacking in the current economy. After you adjust for inflation the minimum wage was around $9.88 an hour in days gone by. If that was what the peanut jobs were giving out imagine what the real jobs were paying in real (inflation adjusted) wages. Every source I find, college economics classes, documentaries on PBS and elsewhere, all agree that Americans are working far more hours and are far more productive than they were thirty plus years ago yet the real wages that the take home are stagnant at best. Why is this? Because most companies can afford to give everyone a raise they simply chose to give more to CEOs and keep their often record breaking profits. Now of course the profits may not be as record breaking today as they were a few years ago, but the fact remains that it is the wealthy that generate economic growth its the average person spending and when those average people have more money they create more jobs. The rich aren't evil, the really bad ones are the people trying to sell everyone on tax cuts for people that have no practical use for them, and trying to sell us all on a supply side based economic system that has been failing us all for decades.
The economy works better from the bottom up, foe example as soon as I get my fat little rebate check in my hand I plan to buy a bunch of American made t-shirts, dip into my savings to buy a decent computer, and so forth. Unfortunately we have also been sold so much on outsourcing that I will probably never be able to find a American made PC so that money will half float out of the country just like it will for all the drones who shop at Wal-Mart, but I am creating a better economic out look for a great many people when I spend money in this country. The simple truth of it is that regular people spend money in a way the rich don't and they create wealth in this country in a way that the rich can't and all those tax cuts Bush handed the top 1% were almost useless. The American people need higher minimum wages, and stronger rights to organize and demand better pay and once they get better pay they will want more products and will create more wealth, while the rich would only throw extra money into banks and the stock market.
John D Infidel, no you are wrong about the drilling. China and India are concerned about global warming. They just gave Cuba money, in the disguise of drilling, because Cuba is a brother socialist state and they are down on hard times. China and India will not drill off shore or in Cuba because they are socialist brothers along with Hugo.
Wa wa whaaaaat!?!?!?
Dick Cheney lied to us?!?!?!
I don't believe it!!! He's never done that before. In fact in Bizaro world he has a 100% record of always telling the truth.
Um yeah, we should have a problem with a soveriegn nation drilling in their own territorial waters? Oh, yeah, we're America. Sorry I forgot for a micro-second. The rules only apply as we see fit.
Does China even own any offshore drilling equipment? Would they be able to get it to Cuba without the US spy satelites taking several images of it? We sure could see the the stuff in Cuba in 1962.
As it stands there is no shortage of crude oil. There is specualtion in oil futures which creates panic. Commodity markets like the stock market are fear based. None of them are rational.
Submitted by James M. Martin (not verified) on Mon Jun. 16, 2008 4:12 PM PDT.
It just amazes me that ANYONE, including neocons, would believe a word from the lips of this inveterate, congenital LIAR.
MarthaA, You talk about trying a different type of government, have you heard about G.W. trying to get us into a North American Union? I am wondering who the big honcho will be. He (or she) would have jurisdiction over all 3 countries. They could make us all walk or ride bikes.
I would guess this is reason we have not found the offender with the contaminated tomatoes. We are wooing Mexico.
G.W. does have oil investments in Canada and would suffer if we switched to battery operated vehicles.
Seems as if we have a lot of issues not being talked about by the presidential candidates.
MotherJones does not tell the whole truth, and maybe MotherJones lies.
CNN Money.com May 9, 2006
follow up to same story in NY Times.
China, Cuba reported in Gulf Oil Partnership (Headline)
Cuba is opening it's waters off Cuba in the Gulf of Mexico and is inviting companies from China, India, Canada and Spain to bid on contracts to drill for oil. US firms were also invited to bid on these contracts but US Government prohibits US OIl Companies from bidding on these contracts. There are billions of barrels of oil off the Cuban coast and it would be a shame to see Red China drilling off the Florida coast. The Times also stated that the US Continental Shelf contained over 115 billion barrels of oil and 633 trillion cubic feet of natural gas, enough oil for the US at the present rate of oil consumption for 16 years and enough natural gas for 25 years.
But the Democrats will not allow drilling off the coast of the USA, but may see oil rigs there from China in the near future. 2006 article.
Democrats say it could be a disaster if there is an oil spill. It is far more likely for an oil spill from any of the hundreds of oil tankers in US waters, oil tankers that are past their age for replacement, almost all being of the dangerous single hull design. How soon people forget the horrible oil spill off the West coast due to an accident involving an oil tanker.
MotherJones-try telling the truth, the whole truth, for the good of america.
Just north of my Edmonton Alberta home are the tar sands around the city of Ft. McMoney er McMurray. The oil is mined and the reclamation is paltry - I opften earn a union $ at Syncrude and the mined area is stretches beyond what a human can see. But aplly some tech&$$ and it can be less destructive
"What is THIS?
Sounds like a a contract to drill to me guys....?"
I guess you got so excited you couldn't read the whole article, which says, "to date its involvement in Cuba's oil sector has been focused on onshore oil extraction in Pinar del Rio province through its state-run China Petroleum and Chemical Corporation. (Sinopec)"
which happens to be exactly what that contract you linked to says, surprise surprise. Or are you suggesting that if the Chinese are drilling actually in Cuba itself, then Americans should be allowed to drill actually in Cuba itself, too? Gee, a few decades of unrelenting hostility from our government kind of put the kibosh on that, I'm afraid.
"MotherJones does not tell the whole truth, and maybe MotherJones lies."
And Dick Cheney's in on it, too!!
'Cheney's office said in a statement to The Associated Press that the vice president had erred.
"It is our understanding that, although Cuba has leased out exploration blocks 60 miles off the coast of southern Florida, which is closer than American firms are allowed to operate in that area, no Chinese firm is drilling there," according to the statement.'
Why are Cheney and Mother Jones covering up?
This might be a good time to point out that ExxonMobil, making money hand over fist selling oil at the current price and with plenty of financial incentives from the federal and state governments for oil exploration just in case the 23.5% return on investment they reported doesn't give them enough incentive, is in fact scaling back on exploration and has been for the past few years. Related to this is the fact that despite their profitability their stock price recently got slammed, because of their lack of success opening up new sources of supply. As a result, they predicted in March that they would have lower production this year than last, and production would be flat until 2012. That such predictions are historically optimistic should go without saying; and in fact their predictions of long term daily production are lower this year than the long term predictions they made last year.
Fact is, we're already well into diminishing returns. Standard & Poor's estimates proven oil and gas reserves to be 3.1% less than they were last year. And exploring, drilling, and pumping a mile under the ocean or in the Arctic are much more difficult and expensive than in Saudi Arabia or Texas, all the hooha about NWRA notwithstanding.
And shale oil, tar sands, coal oil, biofuel, natural gas to oil, etc.? Glowing analyses of the vast quantities there for the taking fail to recognize the rate-limiting step of getting from the raw material to the point where there is something you can send to the refinery. To provide the current petroleum industry with its daily 50 million barrels of raw petroleum from some source other than pumping it out of the ground will require an additional industrial effort at least as large as the entire current petroleum industry. Shale oil and oil/tar sands have been the "next big thing" for half a century now; I can remember when the prediction was that they would be profitable, as soon as the price of oil went up to the unimaginable $30 a barrel. And the difficulties of generating large quantities of biomass for conversion to oil are becoming apparent in the news every day now. In fact, four years ago, in a forward thinking move, ExxonMobil started a natural-gas-to-oil conversion project in Qatar, that being the simplest and most promising of these alternatve sources; they recently pulled the plug on the plan, the predicted cost having reached $18 billion from the original $7 billion with no likely ceiling in sight.
So, ExxonMobil does the fiscally logical thing; pulls in from ever more expensive, risky, and less rewarding exploration and development of alternative feedstocks, and has been instead plowing its money into buying back its stock; 20% over the past 6 years, sitting on their money until they can see a cear indication of what's the best investment for it.
Frankly, if it's not clear to ExxonMobil that the oil industry has a fine future any more, I'm not sure why it should be so obvious to all the folks telling me here and elsewhere that in a few years I'll still be happily feeding my car fuel, only derived from NWRA/offshore/oilshale/coal/oilsands/palm trees.
Submitted by Speculator (not verified) on Sun Jun. 22, 2008 8:54 AM PDT.
No matter where we drill it is not going to make oil go down-longterm. the only thing that will make energy go down is different ways of producing it. Right now gas is cheap, I will tell you why at
www.theinvestingspeculator.com
I am of Cuban heritage and I understand that China is not drilling for oil NOW. Cuba and China will never come outright and say what plans they may have up their sleeve. I have no doubt that Cuba and China will eventually work together on this project.
USA have kept a blockade on Cuba for more than 30 years because Cuba is communist and human right violations blah, blah. which sound ridiculos since USA buy oil from Saudi Arabia that is a monarchy and USA made almost 90% of products in communist China.
now that Cuba is in partnership with China, Norway and others to drill for oil USA is making a big deal of it. I am Cuban "Let my people be'
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