Posted by
Dawnsblood on Sunday, July 30, 2006 12:23:19 AM
This is actually funny. An article by a fellow who has no
idea how the global oil market works. He says:
Jonathan Benjamin-Alvarado, an expert on Cuba energy matters and a political science professor at the University of Nebraska at Omaha, says America’s thirst for oil will soon force a fundamental change in Washington’s relations with Havana.
“I’ve always argued that we would keep the Cuban embargo in place until we got to the point where it started to cost us something.” Today, he adds, “we’re almost there.”
Yes Cuba will make money from this and yes that isn't a good thing, but global oil is fungible. If more nations buy from Cuba, less will buy from other markets. Those other markets will sell to us. In the end that means more oil on the market. The embargo will not effect oil prices here unless people speculating on oil have no idea how it works.