Cuba Could Supply Oil to U.S. in Post-Embargo Future

Cuba has launched a bold policy of oil development that could turn the country into an important supplier of fuel in the Caribbean -- and the United States, should the embargo be lifted in the future. But world economic turmoil might sidetrack Venezuela's commitment to underwrite the multimillion-dollar projects in Cuban refineries and ports. Cuba's oil strategy consists of processing about 350,000 barrels of crude daily and supplying the big demand for oil byproducts in nearby countries beginning in 2013, according to sources in the Ministry of Basic Industry and the state-run oil firm Cuba Petroleo.