Citgo is owned by the government of Venezuela. Sounds like a good reason to boycott Citgo. But it employs thousands of Americans in the U.S. If we stopped buying Venezuelan oil, they would just sell it to someone else, so it would mostly hurt Americans who may lose their jobs.
Seems like valid points on both sides.
Thoughts?
[quote]NE2000 wrote:
Citgo is owned by the government of Venezuela. Sounds like a good reason to boycott Citgo. But it employs thousands of Americans in the U.S. If we stopped buying Venezuelan oil, they would just sell it to someone else, so it would mostly hurt Americans who may lose their jobs.
Seems like valid points on both sides.
Thoughts?[/quote]
I haven’t bought gas at all in two months and my house is fully self-sufficient when it comes to energy (solar for heating and electricity and wind for more electricity)… So in a way I boycott all oil companies.
Anyway, if that’s not realistic for you, Venezuela pays an important role in competing against the OPEC cartel. It basically depends on what you value most: your hatred of Chavez or oil prices.
Boycotts don’t work too well in a sellers’ market. If you really want to stick it too 'em, use less energy and consume less crap. Of course we all know the chances of that happening.
I don’t formally boycott Citgo, but I try not to gas up there. I live next door to a Valero refinery that funds probably 60% of my kids school, though.
[quote]hspder wrote:
Anyway, if that’s not realistic for you, Venezuela pays an important role in competing against the OPEC cartel.
[/quote]
What does that mean? How can they compete against themselves, since they are members of OPEC?
[quote]doogie wrote:
hspder wrote:
Anyway, if that’s not realistic for you, Venezuela pays an important role in competing against the OPEC cartel.
What does that mean? How can they compete against themselves, since they are members of OPEC?[/quote]
I gather you slept through Econ 101? Well, I knew that you slept through Macro, but through Micro too? Tsk, tsk.
I said OPEC CARTEL, not simply OPEC.
A cartel is “broken” when at least one member breaks from the pack and increases production / decreases prices – i.e., starts competing rather than cooperating. A cartel’s worst threat is their own members. Venezuela has done that many times in the past.
[quote]hspder wrote:
doogie wrote:
hspder wrote:
Anyway, if that’s not realistic for you, Venezuela pays an important role in competing against the OPEC cartel.
What does that mean? How can they compete against themselves, since they are members of OPEC?
I gather you slept through Econ 101? Well, I knew that you slept through Macro, but through Micro too? Tsk, tsk.
I said OPEC CARTEL, not simply OPEC.
A cartel is “broken” when at least one member breaks from the pack and increases production / decreases prices – i.e., starts competing rather than cooperating. A cartel’s worst threat is their own members. Venezuela has done that many times in the past.
[/quote]
So, wouldn’t boycotting Citgo lead to them breaking from the pack and lowering their prices?
I’m not gonna buy a damn thing from citgo even though it’s two blocks from my house and the closest gas station.
Economics aside, the plain simple truth is every time you support a business with sales, it helps the business. Stop buying citgo gas = help some other business besides Hugo’s. I’d rather support our own US criminals than Venezuela’s.
[quote]doogie wrote:
I don’t formally boycott Citgo, but I try not to gas up there. I live next door to a Valero refinery that funds probably 60% of my kids school, though.[/quote]
What does Valero have to do with Citgo?
I have never bought Citgo gas and never will.
[quote]doogie wrote:
So, wouldn’t boycotting Citgo lead to them breaking from the pack and lowering their prices? [/quote]
You only lower prices if the right demand elasticity is there. Politically motivated boycotts usually skew demand elasticity the wrong way for a price cut to increase profits.
[quote]Marmadogg wrote:
doogie wrote:
I don’t formally boycott Citgo, but I try not to gas up there. I live next door to a Valero refinery that funds probably 60% of my kids school, though.
What does Valero have to do with Citgo?[/quote]
I’m just an idiot. There are 5 refineries here. Valero is one. I meant Citgo.
I boycott Citgo. I hate Chavez, besides Citgo gas is trditionally low quality.
[quote]hspder wrote:
NE2000 wrote:
I haven’t bought gas at all in two months and my house is fully self-sufficient when it comes to energy (solar for heating and electricity and wind for more electricity)… So in a way I boycott all oil companies.
Anyway, if that’s not realistic for you, Venezuela pays an important role in competing against the OPEC cartel. It basically depends on what you value most: your hatred of Chavez or oil prices.
[/quote]
I’d love to know how you did the solar thing and how much it costs to implement. Please give me some pointers if you are up to it…