Now that Hugo Chavez has won reelection will U.S. gasoline prices rise?
Hugo Chavez exports much of their gasoline to the United States. Now that he has won the presidency for 6 more years, do you believe he will increase the price of exported gasoline to foreign countries?
Venezuela's oil is handled by the Citgo company, which supplies Seven-Eleven stores. When Chavez was first elected, 7 11's prices weren't higher than average, and in fact lower than most, so I don't know why they would be higher now.
The gasoline you buy at any location may not be made by the company that owns the station. The CITGO refinery in LA supplies many different named stations. The oil cos. have an exchange program. It would take a long Hub to explain and would bore most
The answer is ultimately know. We may see a price spike because of speculation. Venezuela does not export gasoline to the U.S. They have refineries in the United States and in other countries. Venezuela owns the CITGO refinery in Lake Charles, LA. It owns half of the Chalmette Refinery in Chalmette, LA. Mobil use to own, it but with the ExxonMobil merger, they became co-owners and eventually, Exxon struck a deal with Chavez to have a "secure" supply of Crude that refinery could handle.
While Venezuela is a major producer, it does not produce enough to control the world market, as long as the speculators do not get out of control. Gasoline in Venezuela is much cheaper, because the government subsidizes the price so the residents can enjoy lower prices. Saudi Arabia and other OPEC countries do the same. Since Chavez was elected, there was no coup and no riots, there should be no changes in the prices--at least no changes caused by that single event.
Not so soon. The increase in recent fuel prices is keeping the cash flowing in to finance his revolution and pay for the nooses we are selling him to hang us with. Chavez has just opened an AK-47 factory that will help him spread arms to surrogates in Central and South America. He intends to do for this region what the Soviets once did to Eastern Europe. The Russian Naval Base he is setting up will also help him do this.
American government is filled with cowards who will let Chavez pull off his revolutionary plans.
Where is your proof for the AK 47 factory, for the Russian naval base, etc? I would think if any of that is true, that the CIA would be on it like white on rice.
I'm no big fan of Chavez, but lets stick to provable facts, not hysteria.
I saw your comment about the Russian Naval Base. We would not let that happen. I do not know if you remember the Cuban Missile Crisis in the 1960s, where we came close to war with the USSR. They blinked--the Soviet missiles were removed from Cuba.
KW--- Here is the info on the AK factory in Venezuela.
Larry -- Here is info on the naval base from the BBC.
I guess because we buy oil, its allowed
WmHoward: Thanks for posting the link to the AK47 article. Seems to be accurate. Snopes http://www.snopes.com/politics/gasoline/citgo.asp says that the Venezuela/Citgo connection and the AK47 factory is a mix of true and false information.
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