Saturday, October 18, 2008


Friends and foes have called Cuba many things - a progressive beacon, a quixotic underdog, an oppressive tyranny - but no one has called it lucky, until now.

Mother nature, it emerged this week, appears to have blessed the island with enough oil reserves to vault it into the ranks of energy powers. The government announced there may be more than 20bn barrels of recoverable oil in offshore fields in Cuba's share of the Gulf of Mexico, more than twice the previous estimate.

If confirmed, it puts Cuba's reserves on par with those of the US and into the world's top 20. Drilling is expected to start next year by Cuba's state oil company Cubapetroleo, or Cupet.


troutsky said...

Perhaps "lucky" like Iraq or the Niger delta or Arauca, Colombia, Mexico, etc etc..

MT said...

I wonder how a more socialistic oil exporting cartel might behave compared to OPEC as we've known it. Maybe Venezuala and Cuba would have their own approach. I mean, beyond agreeing with majority on sticking it to the great satan.