Cubans wonder if Oil discovery will Revive Country
Thursday, July 22, 2004 at 02:13PM
TheSpook
Weary from economic hardship, Cubans are eagerly
awaiting news of the outcome of oil exploration off Cuba by Spain's
Repsol YPF that could turn cash-strapped Havana into an oil producer
overnight and breathe life into President Fidel Castro's communist
regime. Energy is the Achilles heel of the Cuban government which
relies heavily on oil imports from Venezuela to run its oil-fuelled
power plants. Economic growth, particularly in the key hard
currency-generating tourism sector, is all but impossible without
adequate energy resources. [more]
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