|10-08-2008, 08:06 AM||#1|
Join Date: Jul 2001
Location: Hot Springs, Ouachitah
China slant oil drilling under our feet as we twiddle...
CHINA STARTS OIL DRILLING OFF FLORIDA
WHILE AMERICA TWIDDLES THUMBS, CHINESE TAP BILLIONS OF BARRELS
By Mike Blair
While Washington dithers over exploiting oil and gas reserves off the coast of Florida, China has seized the opportunity to gobble up these deposits, which run throughout Latin America, the Caribbean and along the U.S. Gulf coast.
The Chinese have forged a deal with Cuban leader Fidel Castro to explore and tap into massive oil reserves almost within sight of Key West, Florida. At the same time, Venezuelan President Hugo Chavez, who controls the largest oil reserves in the Western Hemisphere, is making deals to sell his country�s oil to China, oil that is currently coming to the United States.
Meanwhile, a new left-wing populist regime in Bolivia has nationalized the natural gas industry, threatening to cut off supplies to the United States.
There are new reports out circulating that Chinese firms are planning to slant drill off the Cuban coast near the Florida Straits, tapping into U.S. oil reserves that are estimated at 4.6 billion to 9.3 billion barrels. This compares with 4 billion to 10 billion barrels believed to be beneath the Alaska National Wildlife Refuge, where drilling is held up in Congress due to the objections of environmental groups which warn of endangering caribou. Permission to drill in the refuge, which experts are certain will not present any environmental hazard, has failed by just two votes in the Senate.
As Chinese business increases its reach around the world, it is seeking oil, which it lacks domestically.
After elections in Mexico in early July, when a new regime hostile to Washington is expected to take power, the United States might be without supplies of Mexican crude oil. The United States gets about 40 percent of its imported oil from Mexico and Venezuela.
China is eager to tap into oil reserves in the Florida Straits and then make a deal with Castro to control it. The Chinese have already reopened an abandoned Russian oil refinery in Cuba. Much of the gas refined there is believed to be destined for Freeport in the Bahamas, where the Chinese, through front company Hutchison-Whampoa, has developed a massive port facility and airfield.
With the refinery reopened and expanded it will also meet the needs of Castro.
Sen. Larry Craig (R-Idaho) has introduced legislation to ease U.S. restrictions that prevent dealing with Cuba to drill in the Florida Straits. It is hoped that Florida regulations that prevent U.S. oil drilling off the state�s coasts could also be eased.
The irony is that Chinese drilling could be even more of an environmental hazard since China is not as concerned about or equipped to deal with any potential ecological disaster as a result of a spill, said Craig.
(Issue #22, May 29, 2006)
|10-08-2008, 08:13 AM||#2|
Join Date: Jan 2003
Location: Twixt Hell & Highwater
Well, I guess we could let our oil companies drill it and then sell the oil to China. AFAIC, here's who wins the next round in global competition: He who gets off oil as its dominant energy source the quickest.
|10-08-2008, 08:22 AM||#4|
Join Date: Jul 2008
We really need to get off the oil teet. Every president that I can remember has said we need to gain energy independence. The talking and the glad handing need to finally stop. We can do it, the american people want to do it. We have to do it.
|10-09-2008, 02:37 PM||#5|
Join Date: Dec 2002
Wasn't slant drilling the reason Saddam Hussein went to war with Kuwait.
He felt Kuwait was stealing Iraqi oil.
|10-09-2008, 02:42 PM||#7|
Ring of Famer
Join Date: May 2001
This has been a long time in the making...
One key to economic stability is having the power to manufacture, and the wealth to be creative. Do you think Haiti can create any new alternative energy sourses? Nope. They are too busy focusing on where the next meal will come from.