Business Daily Can Cuba turn its economy around?
Mar 23, 2026
Jorge Pignon, a veteran oil executive and energy researcher, and Maria Jose Espinosa, a DC-based advocate with on-the-ground Cuba experience, discuss Cuba's deepening crisis. They talk about chronic blackouts, fuel supply and aging power infrastructure. They also cover migration surges and whether limited reforms or foreign investment can turn the situation around.
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Nationwide Blackouts Are Crippling Daily Life
- Cuba faces prolonged, nationwide blackouts and shortages that disrupt daily life, education and medical care.
- Maria Jose Espinosa describes 36-hour outages, spoiled food, closed schools and interrupted insulin access for diabetics.
Fuel Blockade Exacerbates Preexisting Energy Crisis
- Recent fuel blockades have intensified an existing multi-year energy crisis, pushing Cuba toward running out of oil.
- Jorge Pignon says imports stopped since early January and estimates a zero-option moment within weeks without new supplies.
Aging Plants And Corrosive Crude Cause Repeated Failures
- Cuba's power plants are aging and unreliable, with over 50% capacity down and equipment 45+ years old.
- Plants run corrosive heavy crude causing repeated failures; renewables like small solar parks are insufficient systemically.