Quote:
China, Cuba reported in Gulf oil partnership
U.S. firms stand by, prohibited from bidding on contracts; lawmakers propose opening up U.S. coast for drilling.
NEW YORK (CNNMoney.com) - Plans for foreign oil companies, some from India and China, to drill off the cost of Cuba are prompting calls from lawmakers to ease environmental restrictions that prohibit coastal drilling in most of the U.S., according to a report Tuesday.
Adding insult to injury, the Times said U.S. firms were invited to bid on the Cuban contracts, but were barred by the U.S. government due to the country's longstanding economic embargo of communist Cuba.
"Red China should not be left to drill for oil within spitting distance of our shores without competition from U.S. industries," Sen. Larry Craig, Republican of Idaho, told the Times.
Craig is introducing a bill to exempt U.S. oil firms from the embargo, much as food and drug firms are, according to the article.
U.S. firms stand by, prohibited from bidding on contracts; lawmakers propose opening up U.S. coast for drilling.
NEW YORK (CNNMoney.com) - Plans for foreign oil companies, some from India and China, to drill off the cost of Cuba are prompting calls from lawmakers to ease environmental restrictions that prohibit coastal drilling in most of the U.S., according to a report Tuesday.
Adding insult to injury, the Times said U.S. firms were invited to bid on the Cuban contracts, but were barred by the U.S. government due to the country's longstanding economic embargo of communist Cuba.
"Red China should not be left to drill for oil within spitting distance of our shores without competition from U.S. industries," Sen. Larry Craig, Republican of Idaho, told the Times.
Craig is introducing a bill to exempt U.S. oil firms from the embargo, much as food and drug firms are, according to the article.
Nah, let's just ease up sanctions against a long-standing "enemy" so we can take their oil from them. We might have to invade, though - at least we can do it from our own shores this time. And it'll have a snappy name, too - Gulf War III - Close to Home!
