The Great Cuban Oil Myth is Over

Monday, April 15, 2013
Upon returning from her trip to Cuba this month, U.S. Rep. Kathy Castor (D-FL) stated that one of her "top concerns" is oil drilling off the coast of Cuba.

(Note: Castor had four-days worth of meetings with Castro regime officials during her trip.  Yet, she couldn't -- or wouldn't -- make time to meet with pro-democracy leaders on the island. You decide.)

Castor said:

I was very pleasantly surprised that the [Cubans] have been in productive, multilateral talks with the United States, Jamaica, the Bahamas and Mexico to the point where they have adopted many of the safety recommendations in America’s oil spill report.”

She then proceeded to give the sanctions ruse:

"They are prevented from importing or using any of the best equipment that is available. They are prevented, even, from importing any type of equipment that has American-made components.”

But apparently Castor didn't get the memo:

In today's Sun-Sentinel:

Companies abandon search for oil in Cuba's deep waters

Threat to Florida's environment reduced as drillers look elsewhere

After spending nearly $700 million during a decade, energy companies from around the world have all but abandoned their search for oil in deep waters off the north coast of Cuba near Florida, a blow to the Castro regime but a relief to environmentalists worried about a major oil spill.

Decisions by Spain-based Repsol and other companies to drill elsewhere greatly reduce the chances that a giant slick along the Cuban coast would ride ocean currents to South Florida, threatening its beaches, inlets, mangroves, reefs and multibillion-dollar tourism industry.

The Coast Guard remains prepared to contain, skim, burn or disperse a potential slick. And Cuban officials still yearn for a lucrative strike that would prop up its economy. A Russian company, Zarubezhneft, is drilling an exploratory well in shallower waters hugging the Cuban shoreline south of the Bahamas.

But though some oil has been found offshore, exploratory drilling in deep waters near currents that rush toward Florida has failed to reveal big deposits that would be commercially viable to extract, discouraging companies from pouring more money into the search.