This report looks at the background of Cuba's oil industry, and also three legislative initiatives introduced by the 112th Congress which take different approaches toward Cuba's offshore oil development.
This report first examines Cuba’s oil sector, including current production and consumption levels. It then looks at Cuba’s offshore development, including the Repsol project, other offshore projects involving state-owed foreign oil companies, and the outlook for Cuba’s offshore oil production. The report then analyzes considerations for the United States raised by Cuba’s offshore oil development, examining oil spill risks and environmental dangers if spilled oil reaches U.S. waters, the status of disaster coordination between the United States and Cuba, and potential approaches on the issue. The report then examines the debate over broader U.S. involvement in Cuba’s offshore oil development, and touches on two outstanding boundary issues related to Cuba’s offshore oil development. Finally, the report examines legislative initiatives that have been advanced to deal with Cuba’s offshore oil development.