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by Doreen Hemlock
Imagine oil rigs drilling in deep waters just 45 miles
off South Florida. Refineries process the oil in Cuba and sell it
across the Caribbean and beyond. Canadian and Mexican companies supply
billions of dollars in equipment and services.
This could happen, as Havana invites foreign companies to explore its
probable oil and natural gas reserves while Washington’s embargo
against the communist-led island keeps U.S. companies locked out.
South Florida is watching closely, amid debate over drilling near its
shores and concerns over U.S. energy policy. Cuba is courting oil
investors to slash its dependence on foreign fuels. Havana began
opening to foreign investment in the early 1990s after the loss of
Soviet aid, and it produces almost half the oil and natural gas it
consumes. It drills mainly heavy crude on or near shore with help from
Canadian companies.
But the big prize lies in deep-water reservoirs miles off the north
shore in the Gulf of Mexico. By some estimates, the area holds nearly
as much oil and natural gas as the coveted U.S. Arctic National
Wildlife Refuge in Alaska.
Havana is forging deals with companies from Norway, Malaysia, India,
Vietnam, Spain and other nations to explore dozens of its 59 deep-water
blocks. Brazil’s president visited in January to seal contracts for
Petrobras, the global leader in deep-water drilling.
Sen. Bill Nelson, D-Fla., aims to head off those possibilities and keep
drilling far from Florida. In a long-shot move, he seeks to scrap a
31-year-old accord that splits the 90 miles of water between the U.S.
and Cuba and to redraw the borders.
“Soon, there could be oil rigs within 50 miles of the Florida Keys and
the Florida Keys National Marine Sanctuary,” Nelson wrote the Bush
administration in late January.
“And, as the Gulf Stream flows, an oil spill or other drilling accident
would desecrate part of Florida’s unique environment and devastate its
$50 billion tourism-driven economy.”
Brought to you by the HoustonChronicle.com.
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