July 29, 2004
Cuban Oil
Repsol YPF, a Spanish petrochemical giant, is conducting oil exploration off of the coast of Cuba. While the attempt to find oil in Cuban waters is deemed a "long shot," any success in the area would ultimately be detrimental to the Cuban people.
Sure, there would be some immediate benefits. No more power outages, enough fuel for passenger vehicles and tranports. Life would get a bit easier. But, finding oil off the coast of Cuba would be a boon for Castro and his despotic regime. He would no longer have to rely on foreign oil, which at the moment comes primarily from Chavez's Venezuela. And, as you may know, come August, Chavez may be a thing of the past.
Not having to rely on foreign oil subsidies means that Castro can use the leftover finances to further tighten his grip on the Cuban people. Thus prolonging his party's reign.
It could also lead to the easing of sanctions against the island - or the lifting of the embargo alltogether - as it would be incredibly naive to think that US oil companies would allow themselves to be prevented from drilling so close to their own shores.
This worries me. I hope efforts come up empty. I really do.
Posted by Val Prieto at July 29, 2004 01:24 PM
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Comments
By and large, oil has been a curse rather than a blessing for the people of those countries that have it. I forget who pointed it out, but having a vast resource by chance means a government no longer needs to seek its people's assent to its behavior, because taxation isn't its primary source of revenue. When the oil was found after the country was already securely democratic (e.g., the US, UK, Canada, Norway, etc.) it's nearly not as much of a problem, but it holds back those who haven't reached that point (Saudi Arabia and Iran being the most obvious examples, but Venezuela and Nigeria show it, too, though they're both quasi-democracies).
Posted by: Dave J at July 29, 2004 01:55 PM
Where are the leftie eco-freaks and media when we need them? Not a peep.
Posted by: feste at July 29, 2004 08:34 PM
