And now some members of Congress are arguing that the embargo should be ended – or at least that an exception should be made for the oil companies.
Good idea or bad?
I don’t think anybody’s logged on but you and me, BG.
I’m not a fan of the economic embargo against Cuba, but it seems wrong to make an exception just for the oil companies. It would be cheaper to ship the oil to the US than to send it to China or India. The refineries in the Gulf Coast are really close.
Some Republicans are seriously suggesting that we should maintain a trade embargo on Cuba but write in a special exemption for oil. Even by today’s standards, that’s a pretty galling instance of hypocrisy. If there is a rule that American citizens cannot trade with Cuba then American citizens cannot trade with Cuba. Since when are big oil execs above the law? Of course, any claim that American trade policy is based on human rights looks ridiculous as long as we import heavily from China and Saudi Arabia. (And as long as we don’t get serious about banning torture on our own watch.) It would be nice if some senators would take this opportunity to propose throwing out the entire Cuba embargo, but fat chance of that.
Isn’t oil a fungable international commodity? I mean, when you buy it, I didn’t think it actually came to you directly from the producing nation…but you bought it on the commodities market. I’m probably wrong about this…I’m not a commodities guy, and certainly not wrt oil futures.
That aside I’d say that we should either maintain the embargo or not…but that the decision should not be based on whether or not Cuba has oil. Personally I think we should end the embargo…so that I can get my fix of good cuban cigars! 
-XT
The point isn’t buying oil. The point is to allow US oil companies to be (among) the ones drilling for oil off of Cuba, and making the profits off of it, rather than letting companies from commie-loving countries like Canada be the ones making those profits. I think a Canadian company has already bought up the rights to something like 1/4 of the area in question, actually. I heard a thing about this on CBC Radio 1 a while back.
Well, it’s a law, not a “rule”. And if you change the law so that oil companies can trade with Cub, then oil comapanies can trade with Cuba.
Ever since Republicans decided they should not be put under oath.
I wonder which is more palatable, Cuban oil or Venezuelan oil. When it comes to oil, there’s probably no accounting for taste.
Couldn’t we just drill off of Flordia and get into the same pocket?
I haven’t the foggiest idea.
I agree it would hypocritical, but I hope it’s done to put a crack in this stupid embargo. It might the first step in abandoning the whole stupid useless thing. Bush should do it since he’s lame duck and doesn’t have to worry about ex-Cuban Florida votes.
Dump the whole embargo. It’s stupid and counter-productive. Get US companies involved in the rebuilding of Cuba’s infrestructure. Let Fidel say whatever he wants…history has proven that we won the Cold War, no matter what pockets of Commies remain. It’s a big market we should be involved in, and if the oil companies get an exception, then the rest of us should too. I wonder if I could sue for discrimination if the exclusion is passed…?
Venezuelan oil is light and sweet, making it a good all-around, all-purpose choice no matter what you’re serving. Cuban oil, on the other hand, tends to be heavy with a strong bouquet and should only be served with red meat.
The difference is, Cuba produces nothing else the U.S. really needs.
But the rest of his party does. That’s why I think he wouldn’t do it even if he wanted to. The Republicans have invested a lot of political capital in their successful efforts to attract the Cuban-American vote. If Bush lifted the embargo and/or normalized diplomatic relations with Cuba while Castro’s still alive, he would pretty much be kissing off Dade County (and likely the rest of Florida) for the GOP for the next 20 years.
The same would also be true if a Democrat was elected in 2008 and Castro was still alive. Gore ended up being badly burned in Florida as a result of the Elian Gonzales affair in 2000 and if the Democrats find themselves back in control, they certainly wouldn’t want to do anything that would jeopardize their hard-fought gains.
Basically, I wouldn’t count on anything changing regarding either the embargo or our lack of diplomatic relations with Cuba until Castro dies.
The US doesn’t need Cuban oil, either. As has been mentioned, oil is a fungible commodity. So long as Cuban oil actually gets to the market, it has as much an impact on the price of oil (and hence satisfying US oil needs) as it would have if it were sold directly to the US. It really makes no difference if it’s being exported to the US or to Outer Mongolia, so long as it gets exported.
Lifting the embargo (partially) isn’t about buying Cuba’s oil. It’s about whether US oil companies will be allowed to profit from developing Cuba’s oil. A limited exemption from the embargo is about ExxonMobil’s quarterly profits. That’s ALL it’s about.
Then I guess it’s damned well going to happen!
However Florida produces something that the Republical Party dearly needs.
Then I guess Pub leaders in Congress, and W, need to make a choice: Please the Cuban-American voters of Florida? Or please the oil companies?
I think I know which W would choose.