For Publishers
DiscoveryMetadataPeer reviewHostingPublishing
For Researchers
JoinPublishReviewCollect
Register
Blog
About
Search
Advanced search
My ScienceOpen
Search
For Publishers
For Researchers
Blog
About
265
views
17
references
 Top references
cited by
1
    
0 reviews
 Review
0
comments
 Comment
0
recommends
+1 Recommend
1 collections
    0
    shares
      309
      similar
       All similar

      If you have found this article useful and you think it is important that researchers across the world have access, please consider donating, to ensure that this valuable collection remains Open Access.

      International Journal of Cuban Studies is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journals. Furthermore Pluto Journals authors don’t pay article processing charges (APCs).

      scite_

      International Journal of Cuban Studies

      Volume 9, Issue 1
       
      • Record: found
      • Abstract: found
      • Article: found
      Is Open Access

      La Revolución Energética: A Model for Reducing Cuba's Dependence on Venezuelan Oil

      research-article
      Author(s):
      Publication date (Print):
      Journal: International Journal of Cuban Studies
      Publisher: Pluto Journals
      Keywords: energy, oil, Venezuela, Cuba, dependency
      Bookmark

            Abstract

            Given Cuba's growing dependence on subsidised Venezuelan oil, which accounts for a majority of oil consumed in Cuba, any collapse in existing agreements could have wide-ranging consequences for the Cuban economy. As such, strategies to reduce this dependence, and to mitigate the impact of an end to subsidised oil, are becoming an increasingly important issue. This article aims to illustrate how aspects of Cuba's so-called ‘Energy Revolution’ of 2005 can be drawn upon as part of a range of proposed solutions to the problem of over-dependence on Venezuelan oil. The article firstly investigates why a reduction in dependence is necessary. This is accomplished first through an examination of the oil agreement between the two countries, after which an assessment of the extent of Cuba's dependence is presented, followed by an adjudication of the likelihood of a breakdown in agreements. Finally, this is used to evaluate how Cuba would be affected should Venezuelan oil subsidies end. The article then explores the potential of three strategies to reduce this dependence, and therefore the impact of any breakdown, or renegotiation of agreements. Particular attention is paid to evaluating the effect of existing government policies, and building the case for further work in each of the strategy areas, with the ultimate aim of making the Cuban economy more resilient to supply disruption from Venezuela.

            Content

            Author and article information

            Contributors
            Tom Fletcher
            Journal
            Journal ID (doi): 10.13169
            Journal ID (publisher-id): intejcubastud
            Title: International Journal of Cuban Studies
            Publisher: Pluto Journals
            ISSN (Print): 17563461
            ISSN (Electronic): 1756347X
            Publication date (Print): Spring 2017
            Volume: 9
            Issue: 1
            Pages: 91-116
            Affiliations
            The University of Sheffield, UK
            Article
            Publisher ID: intejcubastud.9.1.0091
            DOI: 10.13169/intejcubastud.9.1.0091
            SO-VID: b2b8cd8c-2842-4507-9779-64b7a435a520
            Copyright © © International Institute for the Study of Cuba
            License:

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History
            Categories
            Subject: Articles

            ScienceOpen disciplines: Literary studies,Arts,Social & Behavioral Sciences,History,Cultural studies,Economics
            Keywords: dependency,energy,Venezuela,Cuba,oil

            Bibliography

            1. and (2015) ‘The 2014 Oil Price Slump: Seven Key Questions’. Centre for Economic Policy Research. Available at http://www.voxeu.org/article/2014-oil-price-slump-seven-key-questions. (Accessed 27 August 2016.)

            2. and (2015) ‘Venezuela: Reducing Generosity’. Barclays Emerging Markets Research. Available at http://www.finanzaonline.com/forum/attachments/obbligazioni-titoli-di-stato/2065231d1427388949-bonos-venezuela-e-pdvsa-analisi-e-valutazioni-di-mercato-regole-1a-pagina-barclays_venezuela_reducing_generosity.pdf. (Accessed 27 August 2016.)

            3. (2009) ‘The Castro-Chávez Alliance’, Latin American Perspectives 36(1): 99–110.

            4. BBC News (2012) ‘Spanish Oil Company Repsol to Stop Drilling in Cuba’. Available at http://www.bbc.co.uk/news/world-latin-america-18256895. (Accessed 27 August 2016.)

            5. (2010) ‘The Electric Power Sector in Cuba: Ways to Increase Efficiency and Sustainability’, in (ed.) Cuba's Energy Future: Strategic Approaches to Cooperation . Washington, DC: Brookings Institution Press, 48–79.

            6. and (2007) ‘Cuba: Reforming the Power, Telecommunications and Water Sectors During a Transition’. US Agency for International Development. Available at http://www.energytoolbox.org/library/infra2007/references/infrastructure_reform/Cuba-Reforming_the_Power_Telecommunications+Water_Sectors_During_a_Transition.pdf. (Accessed 27 August 2016.)

            7. BP (2016) ‘BP Statistical Review of World Energy June 2016’, Available at http://www.bp.com/content/dam/bp/pdf/energy-economics/statistical-review-2016/bp-statistical-review-of-world-energy-2016-full-report.pdf. (Accessed 27 August 2016.)

            8. , , and (2014) ‘EM Oil Producers: Breakeven Pain Thresholds’. Deutsche Bank Research. Available at https://etf.deutscheam.com/DEU/DEU/Download/Research-Global/2dd759fe-b80a-4f07-a51c-dd02f4d384e5/EM-oil-producers-breakeven-pain.pdf. (Accessed 27 August 2016.)

            9. CEPEC (2015) ‘Cuba: Portfolio of Opportunities for Foreign Investment 2015’. Available at http://www.granma.cu/file/sp/cartera-de-oportunidades-de-inversion-extranjera-23/datos/documentos/Portfolio%20of%20Opportunities%20for%20Foreign%20Investment%202015.pdf. (Accessed 27 August 2016.)

            10. Chartered Institute of Building (15 March, 2016) ‘China and America Scramble to Invest in Cuba's Tourist Industry’. Global Construction Review . Available at http://www.globalconstructionreview.com/news/china-and-america-scramble-inv7est-cu7bastouri7st/. (Accessed 27 August 2016.)

            11. Communist Party of Cuba (2011) ‘Resolution on the Guidelines of the Economic and Social Policy of the Party and the Revolution’. Available at http://www.cuba.cu/gobierno/documentos/2011/ing/l160711i.html. (Accessed 22 May 2017.)

            12. (2013) ‘The Future of “Cubazuela”’. The Wall Street Journal . Available at http://www.wsj.com/articles/SB10001424127887323884304578328252463429328. (Accessed 27 August 2016.)

            13. (2005) The Logic of Extremism: How Chávez Gains by Giving Cuba So Much . Washington, DC: Inter-American Dialogue.

            14. Cuban Embassy in Venezuela (2011) ‘Convenio Integral de Cooperación’. Available at http://www.embajadacuba.com.ve/cuba-venezuela/convenio-colaboracion/. (Accessed 27 August 2016.)

            15. Economist Intelligence Unit (2016a) ‘GDP Growth Slows Abruptly’. Available at http://country.eiu.com/article.aspx?articleid=574412641. (Accessed 27 August 2016.)

            16. Economist Intelligence Unit (2016b) ‘Venezuelan Crisis Poses Risks to Cuban Economy’. Available at http://country.eiu.com/article.aspx?articleid=1523879136. (Accessed 27 August 2016.)

            17. Energy Information Administration (2015a) ‘Cuba: Analysis – Energy Sector Highlights’. Available at http://www.eia.gov/beta/international/country.cfm?iso=CUB. (Accessed 27 August 2016.)

            18. Energy Information Administration (2015b) ‘International Energy Statistics: Crude Oil Proved Reserves 2015’. Available at http://www.eia.gov/beta/international/rankings/#?prodact=57-6&iso=CUB&pid=57&aid=6&tl_id=6-A&tl_type=a&cy=2015. (Accessed 27 August 2016.)

            19. Energy Information Administration (2016) ‘Oil: Crude and Petroleum Products Explained’. Available at http://www.eia.gov/energyexplained/index.cfm?page=oil_home. (Accessed 27 August 2016.)

            20. (Julio-Agosto, 2008) ‘Oil-for-Doctors: Cuban Medical Diplomacy Gets a Little Help From a Venezuelan Friend’. Nueva Sociedad . Available at http://nuso.org/media/articles/downloads/3537_2.pdf. (Accessed 27 August 2016.)

            21. (2016) ‘Cuban Economy Minister Details Dire Austerity Measures’, Reuters . Available at http://uk.reuters.com/article/us-cuba-economy-austerity-idUKKCN 0ZP0I3. (Accessed 22 May 2017.)

            22. (2000) ‘The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries’, World Development 28(5): 789–804.

            23. Havana Energy (2016) ‘What We Do: Biopower SA’. Available at http://havana-energy.com/biopower-sa/. (Accessed 27 August 2016.)

            24. (2013) ‘Cuba: What Energy Revolution Are We Talking About?’. Havana Times . Available at http://www.havanatimes.org/?p=98692. (Accessed 27 August 2016.)

            25. and (1997) ‘Sun, Sand, and Hard Currency: Tourism in Cuba’, Annals of Tourism Research 24(4): 777–95.

            26. Hospitality ON (28 August, 2015) ‘Cuba Wants to Build 110,000 Hotel Rooms by 2030’. Available at http://hospitality-on.com/en/news/2015/08/28/cuba-wants-to-build-110000-hotel-rooms-by-2030/. (Accessed 27 August 2016.)

            27. International Energy Agency (2015) Oil: Medium-Term Market Report 2015 . Paris: The Organisation for Economic Co-Operation and Development/International Energy Agency.

            28. International Energy Agency (2016) Oil: Medium-Term Market Report 2016 . Paris: The Organisation for Economic Co-Operation and Development/International Energy Agency.

            29. (2012) ‘Cuba's Pharmaceutical Advantage’. North American Congress on Latin America. Available at https://nacla.org/article/cuba%E2%80%99s-pharmaceutical-advantage. (Accessed 27 August 2016.)

            30. , and (2014) ‘Energy Revolution in Cuba: Pioneering for the Future?’. Turku School of Economics. Available at https://www.utu.fi/fi/yksikot/ffrc/julkaisut/e-tutu/Documents/eBook_4-2014.pdf. (Accessed 27 August 2016.)

            31. (2011) ‘Cuban Medical Cooperation Within ALBA: The Case of Venezuela’, International Journal of Cuban Studies 3(2): 221–34.

            32. (26 August, 2016) ‘Oil Steady in Volatile Session, Down 2 Percent for the Week’. Reuters . Available at http://uk.reuters.com/article/uk-global-oil-idUKKCN111041. (Accessed 28 August 2016.)

            33. (2 April, 2014) ‘Cuba's New Foreign Investment Law Is a Bet on the Future’. World Politics Review . Available at http://www.worldpoliticsreview.com/articles/13671/cuba-s-new-foreign-investment-law-is-a-bet-on-the-future. (Accessed 27 August 2016.)

            34. MEO Australia (2016) ‘ASX & Media Release: Multi Billion Barrel Potential Identified in MEO's Cuba Acreage’. Available at http://petroaustralis.com/wp-content/uploads/2016/07/247389_Multi_Billion_Barrel_Potential_Identified_in_Cuban_Acreage.pdf. (Accessed 22 May 2017.)

            35. and (2011) ‘Cuba's Offshore Oil Development: Background and U.S. Policy Considerations’. Congressional Research Service. Available at https://www.fas.org/sgp/crs/row/R41522.pdf. (Accessed 27 August 2016.)

            36. Oficina Nacional de Estadística e Información (2012) ‘Series Estadísticas 1985–2011: 8. Sector Externo’. Available at http://www.one.cu/series2011.htm. (Accessed 27 August 2016.)

            37. Oficina Nacional de Estadística e Información (2015) ‘Anuario Estadístico de Cuba 2014: Sector Externo – Edición 2015’. Available at http://www.one.cu/aec2014/08%20Sector%20Externo.pdf. (Accessed 27 August 2016.)

            38. Oficina Nacional de Estadística e Información (2016a) ‘Anuario Estadístico de Cuba 2015: Minería y Energía – Edición 2016’. Available at http://www.one.cu/aec2015/10%20Mineria%20y%20energia.pdf. (Accessed 27 August 2016.)

            39. Oficina Nacional de Estadística e Información (2016b) ‘Series Estadísticas 1985–2014: 10. Minería y Energía’. Available at http://www.one.cu/series2014.htm. (Accessed 27 August 2016.)

            40. Oficina Nacional de Estadística e Información (2016c) ‘Series Estadísticas 1985–2014: 15. Turismo’. Available at http://www.one.cu/series2014.htm. (Accessed 27 August 2016.)

            41. Oficina Nacional de Estadística e Información (2016d) ‘Anuario Estadístico de Cuba 2015: Turismo – Edición 2016’. Available at http://www.one.cu/aec2015/15%20Turismo.pdf. (Accessed 27 August 2016.)

            42. and (2016) ‘Venezuela's Energy Woes Spread to Its Closest Ally: Cuba’. Reuters . Available at http://www.reuters.com/article/us-venezuela-cuba-oil-idUSKCN0ZO0DI. (Accessed 27 August 2016.)

            43. (1987) ‘Cuban Oil Reexports: Significance and Prospects’, The Energy Journal 8(1): 1–16.

            44. Platts (2015) ‘As US-Cuba Relations Thaw, Oil and Gas Hopes Languish’. Available at http://blogs.platts.com/2015/04/14/as-us-cuba-relations-thaw-oil-and-gas-hopes-languish/. (Accessed 27 August 2016.)

            45. Renewable Energy World (9 April, 2009) ‘La Revolucion Energetica: Cuba's Energy Revolution’. Available at http://www.renewableenergyworld.com/articles/print/volume-12/issue-2/solar-energy/la-revolucion-energetica-cubas-energy-revolution.html. (Accessed 27 August 2016.)

            46. (15 January, 2015) ‘US to Ease Restrictions on Travel to Cuba as Countries Seek to Normalise Relations’. The Guardian . Available at http://www.theguardian.com/world/2015/jan/15/us-cuba-ease-travel-restrictions. (Accessed 27 August 2016.)

            47. (17 December, 2015) ‘Opposition's Capriles Wants “Padlock” Law to Halt International Oil Treaties’. Venezuelanalysis.com. Available at http://venezuelanalysis.com/news/11781. (Accessed 27 August 2016.)

            48. (2013) ‘Cuban Energy Revolution: A Model for Climate Protection?’. Ö-quadrat. Available at http://www.oe2.de/fileadmin/user_upload/download/Energierevolution_Cuba_eng.pdf. (Accessed 27 August 2016.)

            49. The Guardian (10 June, 2016) ‘Six US Airlines Permitted to Offer Flights to Cuba in Foreign Policy Milestone’. Available at https://www.theguardian.com/world/2016/jun/10/cuba-flights-us-airlines-approved. (Accessed 27 August 2016.)

            50. (16 January, 2015) ‘Cuba Is Hoping to Replace Venezuelan Oil With American Tourists’. FiveThirtyEight . Available at http://fivethirtyeight.com/features/cuba-is-hoping-to-replace-venezuelan-oil-with-american-tourists/. (Accessed 27 August 2016.)

            51. UK Trade & Investment (2012) ‘Renewable Energy in Cuba’. Available at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/345400/Renewable_Energy_in_Cuba.pdf. (Accessed 27 August 2016.)

            52. UK Trade & Investment (2016) ‘Doing Business in Cuba: Cuba Trade and Export Guide’. Available at https://www.gov.uk/government/publications/exporting-to-cuba/doing-business-in-cuba-cuba-trade-and-export-guide. (Accessed 27 August 2016.)

            53. US Geological Survey (2005) ‘Assessment of Undiscovered Oil and Gas Reserves in the North Cuba Basin, Cuba, 2004’. Available at http://pubs.usgs.gov/fs/2005/3009/pdf/fs2005_3009.pdf. (Accessed 27 August 2016.)

            54. US Geological Survey (2010) ‘Geologic Assessment of Undiscovered Oil and Gas Reserves in the North Cuba Basin, Cuba’. Available at http://pubs.usgs.gov/of/2010/1029/pdf/OF10-1029.pdf. (Accessed 27 August 2016.)

            55. US Geological Survey (2015) ‘Recent Trends in Cuba's Mining and Petroleum Industries’. Available at http://www.redciencia.cu/geobiblio/paper/2015_USGS%20Fact%20Sheet%203032_Cuba.pdf. (Accessed 27 August 2016.)

            56. Wood Mackenzie (2016) ‘Deferred Upstream Projects Tally Reaches 68’. Available at http://www.woodmac.com/media-centre/12530462. (Accessed 27 August 2016.)

            57. The World Bank (2016a) ‘Global Economic Prospects: Spillovers amid Weak Growth’. Available at https://openknowledge.worldbank.org/bitstream/handle/10986/23435/9781464806759.pdf?sequence=35&isAllowed=y. (Accessed 27 August 2016.)

            58. The World Bank (2016b) ‘GDP (Current US$)’. Available at http://data.worldbank.org/indicator/NY.GDP.MKTP.CD. (Accessed 27 August 2016.)

            59. (2005) ‘The Cuba-Venezuela Alliance: “Emancipatory Neo-Bolivarismo” or Totalitarian Expansion?’. Institute of Cuban and Cuban American Studies, University of Miami. Available at http://scholarlyrepository.miami.edu/cgi/viewcontent.cgi?article=1029&context=iccaspapers. (Accessed 27 August 2016.)

            Comments

            Comment on this article