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Juan Forero

👤 Speaker
28 total appearances

Appearances Over Time

Podcast Appearances

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Well, Cuba relies on Venezuela more than any other country in the world.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Back in the day, when Venezuela was in much better economic shape, it used to ship more than 100,000 barrels a day in cut rate oil, which is just a huge amount.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Cuba would sell some of that on the spot market, and then it would use the rest to keep its economy working.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Now, because Venezuela has over the last decade or so almost suffered an economic collapse, the amount of oil going to Cuba has also fallen dramatically.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

And that means that Cuba is going through long and protracted blackouts in some parts of the country.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

The lights are off for 18, 20 hours a day.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

I think Cuba is entering into a period it hasn't experienced before in exactly the same way.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

We're seeing a lot of hunger in Cuba.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

We're seeing people suffering from diseases like dengue and chikungunya.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

There's a lot of garbage in the streets, people there tell us.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

So it's a really prolonged and deep economic crisis.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

You hear Cuban officials from the president on down talk about how the problems are severe.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

They will openly talk about it, but they won't openly talk about what the solutions are.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

So I don't see where there is much of a change in Cuba because it is a hardline communist regime.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

And this is not a government that has shown that it is open to change.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Yeah, the migration numbers are just startling.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

One highly regarded Havana-based demographer told us that more than 2.7 million people had fled the island since 2020.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Now, that's a quarter of the island's population.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

And we have to keep in mind that those are people who are young.

WSJ What’s News
The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

They're ambitious.

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