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Citgo Flails October 18, 2006

Posted by daveintexas in Bidness, Politics.

I feel for them.  A little.  Not a lot.  They are 4,000 U.S. employees.

I wasn’t sure how they’d spin it, and I have to give them a little credit for the attempted deflection.

Innacuracies such as these (referring to the 7-Eleven decision to drop their supply contract with Citgo, which was made before Hugo’s rants at the UN) have led to numerous calls for a boycott of our products.

Not really.  Although Hugo’s remarks did exacerbate the situation.  But let’s not pretend 7-Eleven hasn’t been paying attention to PDVSA and Hugo Chavez.  Still, their stated position, that the 7-Eleven brand is more valuable to their long term goals than the Citgo brand, is a pretty reasonable position.

Clearly, energy relations between the two countries are closely intertwined, as several U.S. oil and gas companies either have significant investments in Venezuela or purchade Venezuelan crude to satisfy the needs of their customers.  Among them are Chevron (it’s ChevronTexaco Felix), ConocoPhillips and several others.

Hey, don’t just pick on us.  We’re not the only ones who send your money to Hugo.

Fine.  If ChevronTexaco and ConocoPhillips send our money to Venezuela and we don’t feel like it being our money, let’s see the investments and we can freely decide.  That’s free market capitalism Felix.  We don’t owe you a damned thing.



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