In October 2008, the Cuban government announced that its likely oil reserves were more than double that which was previously believed, and its total reserves were probably 20 billion barrels, mostly in the offshore. If the estimates are accurate, then Cuba would have one of the top 20 reserves in the world.[5]
By 2010 an active leasing program for blocks of the ocean floor north and west of Cuba was underway. No U.S. companies participated due to the United States embargo against Cuba. Private companies and state-owned firms, from Brazil, India, Norway, Russia, Spain, Venezuela, Vietnam took leases. Despite the areas leased being close to tourist areas in Florida and Cuba, Cuba does not have the equipment or expertise to handle a major oil spill.
Tl;dr - lots of oil and us companies can’t operate on it because of the embargo so obviously the embargo can’t stay.
In October 2008, the Cuban government announced that its likely oil reserves were more than double that which was previously believed, and its total reserves were probably 20 billion barrels, mostly in the offshore. If the estimates are accurate, then Cuba would have one of the top 20 reserves in the world.[5]
By 2010 an active leasing program for blocks of the ocean floor north and west of Cuba was underway. No U.S. companies participated due to the United States embargo against Cuba. Private companies and state-owned firms, from Brazil, India, Norway, Russia, Spain, Venezuela, Vietnam took leases. Despite the areas leased being close to tourist areas in Florida and Cuba, Cuba does not have the equipment or expertise to handle a major oil spill.
Tl;dr - lots of oil and us companies can’t operate on it because of the embargo so obviously the embargo can’t stay.