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Cuba's known for cigars now, but oil could change that

Discussion in 'Environmental Discussion' started by hb06, Feb 23, 2007.

  1. hb06

    hb06 Member

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    "With oil prices hovering around $60 a barrel and global supplies persistently tight, any new supply source could benefit the USA, the world's top oil consumer. Likewise, Cuba, which relies on Venezuela for more than half of its daily oil consumption, craves self-sufficiency. "In economic terms, it could be a win-win," says Daniel Erikson, an analyst at the Inter-American Dialogue, a Washington, D.C., think tank.

    "The U.S. Geological Survey (USGS) agrees. Two years ago, after reviewing available data on the subterranean structures in the region, the agency estimated Cuba can lay claim to 4.6 billion barrels of oil and 9.8 trillion cubic feet of natural gas."

    "There's just one problem: politics. Since 1962, the U.S. has maintained an economic embargo of Cuba..."

    http://www.usatoday.com/money/world/2007-0...cuba-usat_x.htm
     
    #1 hb06, Feb 23, 2007
  2. SomervillePrius

    SomervillePrius New Member

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    To me 4.6 billion barrels doesn't sound that much?

    How many barrels do we use each year? It sounds about as much as our alaskan "reserves". Not sure it would make any difference one way or the other for us, but could help Cuba
     
    #2 SomervillePrius, Feb 23, 2007
  3. tripp

    tripp Which it's a 'ybrid, ain't it?

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    <div class='quotetop'>QUOTE(SomervillePrius @ Feb 23 2007, 11:29 AM) [snapback]395302[/snapback]</div>
    It's not a lot. We use about 7.3 billion barrels a year. Cuba, however, uses WAY less and it could be a decent thing for them. What's really important is the production rates. That determines how useful the field is. If it had 500 billion barrels but you could only produce 100K barrels per day the field would last a really long time but would not help much at all. In this case the production rates weren't estimated. It sounds like some of Cuba's other fields are in decline.

    The article mentioned 95 billion barrels off the us coast. I wonder what it really is. It may be that high or there may be pressure to push the number up to get the drilling moratorium removed. There would be less resistance if it was thought that there's a substantial amount of oil out there.
     
    #3 tripp, Feb 23, 2007
  4. Earthling

    Earthling New Member

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    <div class='quotetop'>QUOTE(SomervillePrius @ Feb 23 2007, 01:29 PM) [snapback]395302[/snapback]</div>
    To put it in perspective, Saudi Arabia produces about 10 million barrels/day at top production.

    If I had any part of 4.6 billion barrels of oil, I wouldn't be sitting here a wage slave.

    Harry
     
    #4 Earthling, Feb 23, 2007
  5. tripp

    tripp Which it's a 'ybrid, ain't it?

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    <div class='quotetop'>QUOTE(Earthling @ Feb 23 2007, 12:31 PM) [snapback]395361[/snapback]</div>
    Well, if you had a quart of it that you bought at NAPA you still would be. ;)

    That field won't produce anywhere near 10Mbpd. That was my point about production rates being as important as the size of the field.

    It's hardly a super field, but for Cuba it'll probably be a decent reserve. I wonder what the quality of the oil is.
     
    #5 tripp, Feb 23, 2007
  6. mrbogie

    mrbogie New Member

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    Don't tell Bush or we'll invade. :p
     
    #6 mrbogie, Feb 23, 2007
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