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Article: Cuba: With Huge Oil Discovery, Cuba Will Beat United States to Energy Independence.
- Article from:
- TendersInfo
- Article date:
- October 20, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: datta303
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.
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 ...