The U.S. Geological Survey estimates Cuba has 941 million barrels of oil. As many as 753 million barrels could be located offshore, or about 80 percent.

By comparison Saudi Arabia, the world oil leader, has 267 billion barrels.

The Permian Basin in Texas has 3,933 million barrels.

Cuba could also have as much as 1,200 billion cubic feet (bcf) of natural gas, of which 80 percent is offshore.

It's not the only Caribbean country with substantial energy resources. Trinidad and Tobago may have as many as 2,209 million barrels of oil and 64,165 bcf of natural gas in offshore deposits.

The Lesser Antilles is believed by the USGS to have 1,500 million barrels in offshore oil and 11,700 bcf of natural gas. Grenada could have 1,700 bcf of natural gas.