This from Fausta's Blog:
Brazilian state oil company Petrobras is studying a block in deep Cuban waters for possible exploration as part of broader cooperation with the Caribbean island, a top advisor to the company said on Friday.
"We are planning to cooperate not only in exploration and production, but lubricants, refining and training," Andre Ghirardi told Reuters in Havana at a one-day meeting of Brazilian and Cuban businessmen....
The US Geological Survey estimated the North Cuba basin could contain 4.6 billion barrels of oil, with a high-end potential of 9.3 billion barrels, and close to 1 trillion cubic feet of natural gas.
China and Venezuela have already initiated the first stages of drilling in the North Cuba basin.
Facts about foreign drilling immediately off our shores:
1) We have no control over the environmental impact of these operations as they take place in international waters.
2) All three nations pursue oil with State-owned companies, which generally pay their government 50% profits off the top before the product is offered on the world market (ala Sonangol in Angola). Therefore foreign oil off the Florida coast will not necessarily be cheaper than oil imported from Africa, the North Sea, or the Middle East.
So explain to me again why you'd rather have foreign countries and not American companies selling us oil for the next few decades?