Page added on July 16, 2006
Foolishly, the United States is the only industrialized country with substantial coastlines not actively seeking new offshore oil and gas deposits. Canada and even economically backward Cuba are moving forward with plans to drill in offshore areas that abut U.S. coastal waters.
Since pools of oil do not respect international boundaries, it is almost certain that Canada and Cuba will access oil that could otherwise be developed by and benefit Americans.
Leave a Reply