Sitting at the top of The Miami Herald’s Cuba section this morning is a story lamenting that the Castro dictatorship may have to spend $2 billion annually buying oil on the free market if the free oil from Venezuela is cut off:
Cuba would have to spend nearly $2 billion a year to meet its domestic oil needs if Venezuela’s National Assembly and interim president Juan Guaidó manage to stop deliveries to the Caribbean island.
“Cuba’s demand for oil is about 130,000 barrels per day, and Cuba produces about 50,000 barrels per day, which means a deficit of about 80,000 barrels per day,” said Jorge Piñón, director of the Latin American Energy Program at the University of Texas at Austin.
Piñón estimates that Cuba has fuel reserves for about 45 days. But the end of deliveries by Venezuela’s PDVSA oil company would force the government to spend nearly $5.2 million per day at the market price of $65 per barrel for the 80,000 barrels per day it would need to import to meet demand.
By the end of one year, that would add up to nearly $2 billion for an economy that economists agree has not reached 2 percent annual growth in recent years and has probably experienced a recession.
It’s certainly true cutting off the free Venezuelan oil to the Castro dictatorship would have a devastating effect on the Cuban economy. But conspicuously missing from this article is any mention that the oil sent to Cuba’s dictatorship is stolen from the Venezuelan people.
The Venezuelan economy has collapsed due to socialist corruption and the people are dying from starvation and the lack of medicine. Venezuela cannot afford to feed or care for itself, let alone send billions of dollars to a corrupt foreign government that has infiltrated and taken over their government. Yet The Miami Herald’s main concern seems to be how the Castro dictatorship is going to deal with having one of its criminal enterprises shut down.
It’s like worrying how the fox is going to feed itself after the farmer builds a new fence around the chicken coop.