Monday, May 18, 2009

Houston is not interested

If anyone thought the U.S. oil industry was chomping at the bit to get into Cuba, check this story from the Washington Post.

A Chevron spokesman says his company “would have to see a change in U.S. policy before we evaluate whether there's interest.”

And according to reporter Nick Miroff, the American Petroleum Institute “is not lobbying for access to Cuba, and Texas congressional representatives with ties to the oil industry said they are focused on opening U.S. territorial waters to drilling.”

1 comment:

leftside said...

You never SAY you are interested in exploiting something worth hundreds of billions of dollars, particularly before you are legally aloud to even contemplate such a thing. That is bad business - it drives the eventual price up. You do what the US Government has tried to do and that is downplay Cuban oil.

The American Petroleum Institute may act like it doesn't care now, but it has previously and consistently said that they want to drop the embargo and that its clients (like Chevron) support the (Cuba embargo) exemption legislation “in the context of increasing access to oil and gas reserves as a way to ensure U.S. companies’ competitiveness globally.”