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MEXICO CITY - Cuban officials invited U.S. corporations Friday to lobby against the U.S. trade embargo and invest in the communist nation's energy sector, as they announced plans to double their drilling capacity and explore for oil in the island's Caribbean waters.
In the first private-sector oil summit between the two countries, executives from U.S. giants like ExxonMobil Corp., Caterpillar Inc. and Valero Energy Corp. were meeting with Cuban government officials in Mexico City this week to learn about Cuba's potentially lucrative oil reserves.
"We would be happy if North American companies also participated in future projects," said Raul Perez de Prado, Cuba's vice minister of basic industry.
U.S. executives should work to "eliminate the absurd barriers" that limit investment, Perez de Prado said, referring to the 45-year-old U.S. trade embargo designed to undermine Fidel Castro's communist government.
Originally posted by LoganCale
The United States needs to drop that embargo now if they're aren't going to treat other Communist states equally. China is potentially a far, far greater threat than Cuba, but they're our "friends". Cuba is no threat to us. Get rid of the embargo.
Originally posted by Muaddib
BTW, Cuba is no threat but the communist regime of Cuba is a threat to the Cuban people and the world at large.
[edit on 8-2-2006 by Muaddib]