Bye Bye Scarabeo 9

Saturday, November 10, 2012
After years of hype, media speculation and non-stop lobbying by the Castro regime's allies.

From The New York Times:

Cuba’s Prospects for an Oil-Fueled Economic Jolt Falter With Departure of Rig

Cuba’s hopes of reviving its economy with an oil boom have produced little more than three dry holes, persuading foreign oil companies to remove the one deepwater rig able to work in Cuban waters so it could be used for more lucrative prospects elsewhere.

The rig [Scarabeo 9], which was built in China to get around the United States trade embargo, is expected to depart in the next few weeks. With no other rigs available for deepwater exploration, that means Cuba must now postpone what had become an abiding dream: a windfall that would save Cuba’s economy and lead to a uniquely Cuban utopia where the island’s socialist system was paid for by oil sales to its capitalist neighbors.