The Guardian is reporting that Cuba has discovered oil reserves potentially as large as those of the United States. If this is confirmed, then the situation in Cuba could be transformed, with the country becoming not only self-sufficient in oil, but an exporting country. However, the oil is difficult to extract, and the US blockcade prevents access to the most up-to-date equipment to extract it. Nevertheless, this is excellent news, and potentially the key to raising the living standards of the entire Cuban people, as well as adding extra strength to the bloc of Latin American progressive governments. It is possible that the oil might cause the US to soften its attitude to Cuba, or step up its efforts against socialism there, with the type of shenanigans familiar to us from Cuban history, and recent developments in Venezuela.
I heard the Cuban Ambassador to Ireland Noel Carillo talk about the devestating effects of the recent hurricanes on Cuba, and of the rebuilding efforts that are taking place there. Let’s hope that the oil reserves provide the resources to transform the country.