Craig Calls for U.S. Oil Drilling in Waters of Cuba

By The Idaho Statesman, Boise

May 12–Attempting to use gas price frustration to crack a Cold War-era ban on U.S. trade with Cuba, Idaho Sen. Larry Craig wants to allow American companies to sign deals with the Caribbean island nation to explore and develop oil deposits in its waters.

“It’s time America began to understand that our … prohibition on trade with Cuba has accomplished just about zero and that policy needs to be changed,” Craig said in a telephone interview before introducing legislation Thursday to permit U.S. oil drilling deals with Cuba.

U.S. companies are prohibited from doing business with Cuba. But since the discovery of oil deposits off its northern coast two years ago, Cuba has signed drilling deals with companies from Canada, China, India and Norway.

—–

Copyright (c) 2006, The Idaho Statesman, Boise

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

NASDAQ-OTCBB:TMAM,