Cuba as a Hemispheric Petropower: Prospects and Consequences

Abstract

This article provides an overview of the evolving situation with regard to Cuba's oil prospects and explores the implications, especially with regard to Havana's foreign relations, of Cuba's potential emergence as a hemispheric petropower. It begins with an assessment of the size of the reserves and the problems of exploiting them. It then analyses the impact of the discovery of sizeable reserves on the Cuban economy and the concerns that this may raise with the US. There follows a discussion of the possible implications of Cuba becoming a petropower on international relations within the Caribbean and with Washington in particular. The article concludes that overall, the exploitation of large quantities of oil in Cuban waters of the Caribbean will be a positive development both for the Cuban economy and the relationship with the US.