Oil and Cuba after Chávez

Oil and Cuba after Chávez

Hugo Chávez' death could lead, immediately, to a struggle for power in
Venezuela. For non-Venezuelans, the first two questions that spring to
mind are, in no particular order: How will it impact the oil markets?
What will it mean for Cuba's future? Schwartz Fellow Steve LeVine writes
in Quartz that Chávez' death is unlikely to immediately end Venezuela's
policy of nationalizing the industry, as the national assembly is still
dominated by Chávez supporters. But, he notes, a more freely elected
Venezuelan president could decide to pump more oil, and renegotiate the
preferential deals enjoyed by China and Cuba. Speaking of Cuba, Former
Schwartz Fellow Jorge Castañeda, is quoted in a Wall Street Journal just
days before Chávez' death, noting that Cuba's leadership has fully
leveraged Fidel Castro's early and strong political support for Chávez
into financial support from Venezuela, allowing poor, small Cuba to
negotiate hundreds of deals with oil-rich Venezuela that are favorable
to Havana. Chávez death could imperil the Cuban economy just as the
ruling Castros are in their twilight.

http://inthetank.newamerica.net/blog/2013/03/oil-and-cuba-after-ch%C3%A1vez