With Huge Oil Discovery, Cuba Will Beat United States to Energy Independence
After revising estimates, Cuba now claims it has double the amount of oil in its offshore reserves than previously thought. If the estimates are accurate, Cuba would have just as much oil as the U.S.
This discovery, coupled with initiatives to develop alternative energy projects, such a brand new biogas factory, will put Cuba on the fast track to achieving energy independence.
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If it in fact has 20 billion barrels of oil offshore, Cuba would slingshot into the top 20 of oil producing nations worldwide. They plan to start drilling next year for reserves located in the Gulf of Mexico, north of Cuba. The U.S. Geological Survey recently completed a survey in the area of discussion and arrived to an estimate far less to that of Cuba’s. Cuba has responded by suggesting that they have better data than the USGS, and with Cuba’s data they think the USGS would undoubtedly agree about the size of the oil discovery (apparently the offer to provide the data has been made).
For comparison, the United States currently is thought to have about 21 billion barrels of oil reserves.
Given the respective sizes and populations of each country, it’s easy to understand why Cuba will reach energy independence far more quickly than the United States (at least as long as there is oil in the world). Cuba currently produces about 60,000 barrels of oil per day. It buys an additional 93,000 a day from Venezuela at a reduced price to help meet its energy needs (they provide doctors for Venezuela in exchange as well as sports instructors).
But Cuba’s quest for energy independence is not succeeding simply because of luck and oil. They also are taking important steps such as banning incandescent light bulbs and investing in new alternative energy technology. For instance, a new biogas plant will help provide energy and electricity by processing organic waste. Construction of the plant was recently completed. It is located at a garbage dump in Havana that processes 60% of the capital’s waste. The United Nations’ divison of Industrial Development provided assistance with the project and Switzerland’s Government provided financial support.
What About the Embargo?
So the big question is whether or not Cuba’s oil discovery will put added pressure on the United States to lift its embargo on Cuba. With the possibility of having another significant oil supplier, what do you think the United States should do?
Image Credit: wedgienet on Flickr under a Creative Commons license
yes, the trade embargo with Cuba is like the “war on drugs,” a worthless and expensive waste of time, energy and money. whatever goal was once deemed worthwhile, that time has passed.
Cuba survived the cut off of Soviet Aid and with Chavez and Morales, has trading partners.
The U.S. is stupid to make enemies of these people. The founders of this nation would have thought it a ridiculous position. It’s good to be a good neighbor and to have one. As far as I can tell, Cuba isn’t a big threat to the U.S. and hasn’t been for decades and decades.
Some people in the U.S. are like the Japanese guys after WWII who were abandoned in the wilderness, still fighting that war, while the rest of the world moved on.
oh, and Harbinger- whatever, your dudeness.
Cuba with oil will doom their dictatorial revolution. There is no way the U.S. is going to see Cuba become an oil producer.
This is a great opportunity to take steps to lift that old bitter resentment embargo! I’m really hoping Obama will take this in consideration in January.
Bye bye US contracts, I am happy Cuba won’t deal with Americans on that, they deserved it. I am very happy for Cubans!!!
…THE IMPENDING OIL CRISIS… PEAK OIL…? EVERYTHING ISN’T SO BAD.
Undiscovered world hydrocarbon reserves are too far from depletion. For example, the world’s second largest discovery in the past 20 years occurred at Brazil’s Tupi field, in November, 2007. Estimated recoverable reserves could reach eight billion barrels. Some early was discovered Sugar Loaf field (25-40 billion barrels).
Swiss-based Manas Petroleum stated that a resource evaluation in north-western Albania had assigned 2.987 billion barrels of oil with 3.014 trillion cubic feet of associated gas.
Oil contents of the US Outer Continental Shelf estimates as about 19 billion barrels and so on.
There are many large undiscovered oil fields (perhaps 40-50%).
Problem is in low success rate in exploration wells.
According to industry figures the rate for the North Sea now are approximately 25%. In other words only one well is successful in four drilled. It significantly brakes industry growing.
However there is a Binary Seismo-Electromagnetic (BSE) technology, which uses new physical mechanism for creation the direct response from hydrocarbon deposits. It can significantly mitigate statistic data cited above because BSE success rate is more then 75% for wildcats with discovering commercial pays. Or to put it another way, failure rate is 25% only (one well in four drilled). So, new method is at least in three (3) times more effective then conventional methods. The BSE survey can find and outline at list 75% of all reserves in any region before any drilling is done or it can add 25-30% reserves in old provinces. http://www.binaryseismoem.weebly.com
I got a little queezy when I read the title of your post. But I couldn’t agree more. We need drastic change in our mind set in this country. We built the Hoover Dam in 5 years during a time of no technology. How far have we gotten on the World Trade Towers in 7 years? Liberalism is killing what made this country great.
Thanks, Great post!
What I do think? I agree with the poster above who states: “Energy Independence should be independence from FOSSIL FUELS”. Electric cars will be the wave of the future, regardless of the impact they will place on our grids. So the real solution lies in how we can generate electricity cleanly, considering all the devices we already have that are running on electricity. Fuel cells are way off…
Having said all that, It bothers me to no end that all “greenies” also appear to be marxists. WHY?
uhhhhhhhhhhh wow… yall type too much and this isnt even what im looking for ;/