Cuba On The Move -
Bahama Journal Editorial:
Nassau, Bahamas -

As it is for all other human beings, Bahamians had better realize that good times go and bad times arrive. They do so in the same kind of general way that the tide ebbs and flows.

And for sure, in the world of money; fortunes are made and fortunes are squandered.

What we are suggesting is that whether Bahamians wish to know it or accept it as fact, the truth is that they live in a world where whatever they have achieved can be eclipsed by other people.

And when we talk about ‘other people’ we are not referencing people half-way around the world; here reference is to some of our neighbors like the Cubans, the Jamaicans and the Haitians.

We are certain that the day will come when the wheel will turn for these people and that they will get their fair share of the prosperity in the world that is rightfully theirs.

It will be theirs because they would have earned.

And when they do, we are certain that they will be able to enjoy it.

And for sure, it will be sweet granted the fact that they would have endured the hard times.

We make this point - by way of commentary- to advise Bahamians that they should not allow themselves to be carried away by vainglory, pomposity and overweening ambition.

In truth, things are hardly ever what they seem.

Those who are up today can very well be down tomorrow.

Take for example the parlous situation Cuba now finds itself in courtesy its isolation from trade relations with the United States of America.

Year in and year out for almost half a century, there have been people in that great country who would take to salivating over the possibility that some how the Cuban regime would collapse.

Paradoxically, the regime in Cuba has been consolidated, thanks in great measure to that fighting spirit that is so very deeply rooted in the Cuban soul.

And now, there is some very good news for the Cuban people.

That good news concerns that one precious commodity that quite literally runs things in the world.

Here the reference is to oil.

As we are learning from the Philadelphia Inquirer in a piece written by Gary Marx, "Cuba has become the latest country drawn into the frenzied hunt for oil, hoping that a gusher in its Caribbean fields will ease its energy dependence and revive its economy."

It is said that "after years of boasting about its energy potential but seeing few results, Cuban authorities received good news last year when the U.S. Geological Survey estimated Cuba's northern offshore basin contained 4.6 billion barrels of oil and 9.8 trillion cubic feet of natural gas.

We are told that the amount of oil is roughly half the estimated reserves in the Arctic National Wildlife Refuge, which President Bush wants to open for drilling, and could provide Cuba daily production of about 300,000 barrels.

It is being reported that "already, oil companies from Canada, Spain, Norway, Malaysia and India have signed agreements with Cuba's state-owned company, Cupet, to begin exploring in waters more than 6,000 feet deep.

In addition we are learning that India's state-run petroleum company raised its stake in Cuba's oil sweepstakes by signing a deal to join Cupet in exploring 1,660 square miles off Cuba's northwestern coast.

Even more important is the very good news that "Venezuela's state-run oil giant, Petroleos de Venezuela, and Brazilian and Chinese companies also are interested in exploring for high-quality crude in Cuba's 43,250-square-mile offshore zone…"

On the other side of this oil proposition is the fact that "American oil corporations are barred from participating because of U.S. trade sanctions against the island…"

The bottom line is that like a well aimed boomerang, these sanctions would prohibit the United States from importing Cuban oil.

Closely allied to this new development in the Cuba-United States-Rest of the World Equation is new information to the effect that Cuba and China pledged to build on their rapidly growing trade on Tuesday, ending two days of meetings with a vow to do more in industries like oil, pharmaceuticals, nickel, medical services and tourism.

We are also told that Chinese Deputy Trade Minister Wei Jian Guo and Cuban Government Minister Ricardo Cabrisas said in Havana that the two countries had set up a commission to work on joint investments in various sectors.

One very interesting statistic made available by the Chinese customs office reveals that bilateral trade between the two communist-run countries doubled in 2006 to nearly $1.8 billion.

Bahamians should take heed; read the handwriting on the wall and prepare themselves for the arrival of a new state of affairs in this region and in the world.

And suffice it to say, Cuba is on the move.

29 March 2007