Cuba Bets on Solar Power as Energy Crisis Deepens
Kansas Fed Pres Warns Oil Price Shock Might Not Be Transitory Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… Cuba has been experiencing a worsening energy crisis for several years, which previously led it to rely heavily on Venezuela for its fuel.
Following the United States’ intervention in Venezuela in February, theenergy crisis has grown even worse, as Cubans face regular blackouts and the economy suffers.
Cuba requires about 100,000 barrels a day to power its grid and meet the regular transportation demands.
It fulfils just 40 percent of this demand domestically.
In January, the Trump administration imposed a fuel blockade on Cuba, which led to severe power outages andfuel shortages, exacerbating the energy crisis that had previously emerged due to years of underinvestment in Cuba’s energy infrastructure.
This has had a knock-on effect on the country’s economy, as businesses face regular blackouts and the high cost of fuel prevents many from operating.
Cuba could previously meet its minimum energy demand by importing fuel from Venezuela.
invaded Venezuela in February, it stopped all energy imports from Caracas to Havana.
When Mexico quickly stepped in to fill the gap, Trumpthreatenedany power that provided Cuba with fuel with high trade tariffs.
President Trump signed an executive order that threatens tariffs on third parties looking to sell oil to Havana, and introduced U.S.
measures to penalise companies that want to invest in Cuba.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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