Oil Prospects In Cuba Have Some Rethinking U.S. Trade Embargo

Thursday, 19 August 2010

Hispanic Link News Service

As speculation surfaces of oil prospects in Cuba, officials are worried that the United States’ embargo will fall short with trade, as the island continues to attract global investments from countries such as China.

“If we insist on maintaining the embargo, other countries will benefit from that increased trade,” said Ronald Saligo, professor of economics at Rice University, through a teleconference Aug. 17 at a luncheon of the National Foreign Trade Council (NFTC). “There is a great deal of potential here. The question is whether we are going to sacrifice those for this (embargo) policy, which has not succeeded in 50 years.”

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