We thought it was bad enough that Fidel Castro can drill for oil 45 miles off our shores when we can’t, but now comes Sen. Larry Craig (R-ID), to call attention to the fact that fierce US competitor China is partnering with Cuba to explore these same oil fields.
Lou Dobbs reported on this yesterday, too — as did Fox News — but Lou’s reporter Kitty Pilgrim got it a bit wrong saying, “But U.S. companies, because of the U.S. embargo of Cuba and hostile relations with Fidel Castro, are locked out of the game” (transcript).
She is right that there is an embargo in effect with Cuba. But the big problem isn’t that US companies can’t tap Cuba’s oil. The big problem is that we are not allowed — by our own government — to tap US oil! Eighty-five percent of this treasure trove of oil and gas (80 billion barrels of oil and 420 trillion cubic feet of gas) are subject to a federal embargo.
We have no one to blame but ourselves, the only country that limits access to its own natural resources.
Drop your elected representatives a note and ask them to ‘splain why they won’t open US resources to US companies.
Latest posts by NAM (see all)
- Manufacturers Win Several Website Design Awards - June 15, 2011
- China Makes Commitments on Trade, Intellectual Property - December 16, 2010
- ITC Details Widespread Theft of Intellectual Property in China - December 14, 2010