Osama does it again!

Intended consequences to his drilling ban?

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September 12, 2011 10:03am 15 Comments

Cuba to drill six oil wells off Florida coast

byMark Tapscott Editorial Page Editor

President Obama and his Interior Secretary Ken Salazar have all but shut down the U.S. oil and natural gas industry drilling in the Gulf of Mexico, but foreign powers like China, Cuba and Venezuela aren't hesitating to move in to take advantage of America's bureaucratic paralysis.

Global Post reports preparations are moving forward for six wells in an area off the Florida coast in which U.S. experts have estimated could contain five billion barrels of oil. The Cubans are moving to tap into this potential energy bonanza with extensive aid from China, which built the massive drilling rig, and Hugo Chavez' Venezuela, which is providing drilling and production expertise.