http://www.ibdeditorials.com/IBDArticles.aspx?id=334363262212097
Two Russian nuclear attack submarines have taken up positions along our East Coast in recent days, another sign of renewed assertiveness by the former communist giant. The move comes as Moscow inks a deal with the communist relic of Cuba to drill for oil we refuse to go after. ...
Drilling will be done off America's coast soon enough. But thanks to a treaty signed by President Carter, the new oil and gas resources that will be discovered in the region will be discovered by Russia and Cuba to their economic benefit.
Normally, economic zones extend 200 miles off a country's coastline. In some cases, conflicts can arise based on resources and geography. In 1977, Carter signed a treaty with Cuba that essentially split the difference and created for the communist country an "exclusive economic zone" extending from the western tip of Cuba north virtually to Key West. Cuba has divided its side of the Florida Straits into 59 parcels and put them up for lease.
Foreign countries, including China and India, have acquired the rights to develop 16 of them.
"This is the irony of ironies," complained Charles Drevna, executive vice president of the National Petrochemical & Refiners Association. "We have chosen to lock up our resources and stand by to be spectators while these two come in and benefit from things right in our own backyard." ...
It is certain that at least some of Cuba's wells will tap oil pools that straddle the boundary separating our zone from Cuba's. In other words, Havana will get oil that should be ours. ... If Russia, Cuba and others can drill off the coast of Florida, why can't we?
Wouldn't you know the only other President comparable to Barry would have his hands in this pot. I wonder why Barry didn't send him to North Korea instead of Slick Willie.
A little more important than Obamacare being rammed down our throats don't you think?
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