I don't think that you'll see the embargo lifted, though...you'll only see big oil be exempted. That way the administration can placate both the big oil interests that they are so cozy with, as well as the Cuban-American voting bloc in south Florida.
Any hope of travel bans or Cuban product bans being lifted is merely wishful thinking in my opion. Also, who's to say that Castro would even welcome American oil investment? With the number of countries lining up ahead of us, and with Venuzuela's Hugo Chavez whispering in Fidel's ear, we might just be given the finger and squeezed out of the equation.
I used to think that I would see the embargo lifted in my lifetime, but I am really not so sure anymore.