Cuba

China Eyeing Cuba Offshore Oil

27 April 2006

NEWS MAX (UNITED STATES)--China and a host of other oil-hungry nations will be tapping into huge offshore oil deposits a mere 50 miles from the United States (U.S.) while this nation is forced to endure rising gas prices as a result of record high demand for oil fueled by such countries as China and India. According to Sen. Larry Craig, R-Idaho, the U.S. energy sector has been "hamstrung" from seeking additional oil resources while at the same time allowing "the likes of China, Canada, Brazil, Spain, France and others to freely seek energy opportunities 50 miles off our coast without competition from state-of-the-art technologies and expertise of our own U.S. gas and oil industries." Source: http://www.newsmax.com/archives/ic/2006/4/27/224539.shtml (Reliability: 5)