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Hugo's Citgo a No-Go

Jocko

Philosopher
J
Joined
Dec 4, 2001
Messages
5,467
It's certainly done in self-interest, but 7-11 is dumping Venezuela-owned Citgo gas after a 20-year relationship. About 40% of 7-11 stores sell Citgo today - soon, they'll sell their own brand which, oddly enough, will not be sourced from Venezuelan governement-owned producers.

7-Eleven had been considering creating its own brand of fuel since at least early last year. Company officials said at the time they had spoken with independent fuel distributors.
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Hmmm... about a year and a half, then. When did Hugo Chavez start believing his own Che act?
 
Well, the USA stopped buying all Iranian oil in 1979 yet the embargo has not hurt the marketing of Iranian oil.

I would expect similar results if the USA posted a Venezuela oil embargo as well.
 
Somehow, I don't think the solution to high-priced oil is to stop buying from everyone who pisses us off.

IXP
 
The best price for gasoline between my home and my office is a Citgo station. They regularly beat the BP/Amoco station just down the street by a penny. I usually gas up there. Or did until I found out Citgo is Venezuelan-owned. Now I pay a penny more per gallon - about eleven or twelve cents per tank - at the BP/Amoco.

I know, economically it doesn't make sense. If Citgo has more gas than it can sell, it'll sell its excess to BP/Amoco at the prevailing market price, so it all washes.

Nevertheless...
 
Crossbow said:
Well, the USA stopped buying all Iranian oil in 1979 yet the embargo has not hurt the marketing of Iranian oil.

I would expect similar results if the USA posted a Venezuela oil embargo as well.
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Who said embargo? Apart from Hugo, that is? 7-11 just said it Citgo had become a PR liability, that's all. God bless the free market!
 
BPSCG said:
The best price for gasoline between my home and my office is a Citgo station. They regularly beat the BP/Amoco station just down the street by a penny. I usually gas up there. Or did until I found out Citgo is Venezuelan-owned. Now I pay a penny more per gallon - about eleven or twelve cents per tank - at the BP/Amoco.

I know, economically it doesn't make sense. If Citgo has more gas than it can sell, it'll sell its excess to BP/Amoco at the prevailing market price, so it all washes.

Nevertheless...
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I actually go out of my way to buy my gas at Citgo.

Chavez may have stepped a bit over the line with his UN speech but his promise to provide heating oil to low income americans is better than anything coming out of Exxon, Moblie and the likes..

Plus I prefer my oil to be free of middle east ties, I much rather support venezuelan oil...

EDIT:

Did some reading and there are other choices BP, Sunco, Hess all seem to be Middle east oil free.
 
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SteveGrenard said:
Won't boycotting CITGO put thousands of Americans who work for CITGO out of work?
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Probably, if anyone was organizing one, which they're not. 7-11 saw the relationship as a net liability and didn't renew their contract - it's not a "boycott" any more than your switching long distance companies.
 
shemp said:
Yes, but according to the Capitalist Model, they will go to work for other companies whose business increases. Good Ed man, don't you understand Capitalism!??
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That's precisely what will happen, unless you think a boycott would also make a corresponding percentage of energy needs evaporate along with the jobs, in which case I'd love to hear that theory.
 
Jocko said:
That's precisely what will happen, unless you think a boycott would also make a corresponding percentage of energy needs evaporate along with the jobs, in which case I'd love to hear that theory.
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I think the point is that the transition may not be so friendly to the displaced individuals as the free market ideal might offer. Which is not to say we should avoid all transitions, but that we should recognize that such changes have consequences worth addressing, even if in the long run they work themselves out. Human beings can't wait a few years for the market to sort itself out.
 
Jocko said:
Who said embargo? Apart from Hugo, that is? 7-11 just said it Citgo had become a PR liability, that's all. God bless the free market!
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Sorry about that!

Your referral to Che had indicated to me that you desired an embargo of Venezulan oil products. My misunderstanding!
 
Mephisto said:
Let's all buy middle-eastern oil! It's the patriotic thing to do. :)
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Plus it will be easier to justify a permanent occupation in Iraq.

Yeah Patriotism!








I really need to convert my car to run on freedom fries oil...
 
I really think we should stop buying oil with trans-fats.

Whoops, wrong thread.

IXP
 
IXP said:
Somehow, I don't think the solution to high-priced oil is to stop buying from everyone who pisses us off.
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Suppose every Citgo station in the US closes. Does that mean Venezuela won't be selling oil to the US? Not necessarily. Venezuela exports crude. That crude gets refined into oil here in the US. But that crude could just as easily be sold to other companies to do the refining and distribution - boycotting Citgo stations would cut Venezuela out of the distribution market, but it wouldn't cut them out of the oil market.

Plus, as stated, this isn't an actual boycott.
 
My boat has a little diesel engine and the diesel at the Shell station on the river is tinted pink. What if each nation's oil was tinted a specific color. That way I can oil from Indonesia, but not Nigeria or Venezuela, and hot left-wing wacky chicks like Sally can buy strictly Venezuelan product.
 
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