Building a world of
resilient communities.

MAIN LIST

 

Castro announces crude oil discovery

HAVANA -- President Fidel Castro said a crude oil deposit has been discovered off Cuba containing up to 100 million barrels, good news for a country that imports about half the petroleum it needs.

"This is the first discovery since 1999," Castro said Friday in a speech to a closed session of the National Assembly. His comments were aired on state television Saturday.

Castro said the deposit was located off the coast of Santa Cruz del Norte, east of Havana, during an exploratory drilling. He said production at the site could begin during 2006.

Cuba currently produces 75,000 barrels daily, about half of what it needs. It imports most of the rest, much of it on favorable terms from political ally Venezuela.

Oil specialists believe Cuba's waters in the Gulf of Mexico could contain large quantities of crude, just as those of Mexico and the United States do. Earlier explorations turned up only modest discoveries.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Citizens Can Sue Fracking Companies for Earthquake Damage, Says Oklahoma Supreme Court

Oklahoma almost never used to have earthquakes. But in the last six years …

Peak Oil Notes - July 2

 A midweek update. Despite a rally on Tuesday, New York oil …

Asia depends on Middle East for 66 % of its oil imports

Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) …

Rural Colorado Leads the Charge for Energy Freedom

Last week the Western Slope Colorado witnessed a huge victory for energy …

“We are in danger of winning. But….”  

First in-depth radio interview on The Winning of the Carbon War, on Radio …

Renewable Energy Redoubles its Global Reach

A significant threshold has been crossed by renewable energy as analysts …

Peak Oil Review - June 29

A weekly review in including Oil and the Global Economy, The Middle East …