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Monday, July 25, 2011

As Chávez Falters, Cuba Faces Uncertain Future - Lois Parshley

http://www.theatlantic.com/international/archive/2011/07/as-ch-vez-falters-cuba-faces-uncertain-future/242333/

In a world without Chávez, Cuba will still need a sponsor. Its best hope may be to work out a preferential relationship with Iran, already a partner in smaller trade agreements. But given the power of the personal relationship between Chávez and Castro, any such agreements would likely be less favorable than the current arrangements with Venezuela. If the Spanish company Repsol's offshore drilling results in 2011 are productive, other non-Venezuelan companies (such as the National Iranian Oil Company) might be interested in helping Cuba develop offshore oil fields. But no foreign business can own majority control in any Cuban joint venture, which may discourage non-Chavista investors.

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