Oil & US Vulnerbility

Citgo oil company sign

I know little about the oil sector, but I do remember watching gas prices spike after Hurricane Katrina and an influx of people to the site looking for information on how to save money on gas. That’s why I read a story at usatoday titled Has Citgo Become A Political Tool For Hugo Chávez? – from the article:

…there’s nothing ordinary about Citgo. One of the USA’s largest refiners, Citgo is a subsidiary of Venezuela’s state-owned oil company, Petroleos de Venezuela S.A. (PDVSA). As such, it ultimately belongs to Venezuelan President Hugo Chávez, an avowedly anti-American leader who counts Fidel Castro among his closest friends and mocks President Bush as

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[Continue Reading at SavingAdvice.com]

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3 Responses to Oil & US Vulnerbility

  1. Bill says:

    He’d also cripple his own economy. While he’s not above acting irrationally, that’s a recipe for being overthrown – and he knows it.

  2. Dee says:

    Many people see Chavez as a villain, but I applaud him for helping out those less fortunate residents in the Bronx (NYC) and other low income communities.

  3. Joe says:

    I’m not concerned. All the US Gov’t has to do is go in and seize those specific refineries and have another oil company send their oil through it. Problem solved.

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