Biblioteca digital: economía y sociedad

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

Resumen: 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.

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Año: 2017

Como citar: Fletcher, T. (2017).