This idea isn't exactly new... and it won't work as well as you seem to think it will.
My understanding is that Venezuela sold out it's share of CITGO. Am I correct in this?
I'm already on it! Plenty of other options out there.
Someone called in to the Savage show yesterday and said Citgo is changing their signs to Petro Express. Not sure why. Did Citgo sell out or beginning to hide already?
CITGO Petroleum Corporation is recognized as a leading manufacturer, marketer and transporter of gasoline, jet turbine fuel, diesel fuel, heating oils, lubricants, refined waxes, petrochemicals, asphalt and petroleum-based industrial products.
The company's success is due in large part to CITGO's continued emphasis on its key priorities: safe worksites for employees, environmental stewardship and a commitment to long-term financial health through strategic growth and business diversity.
Headquartered in Houston, Texas, CITGO is owned by PDV America, Inc., an indirect, wholly owned subsidiary of Petróleos de Venezuela, S.A. (PDVSA), the national oil company of the Bolivarian Republic of Venezuela.
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I don't think it would work. Even though gas prices are falling, people will still look for the lowest price. If it happens to be Citgo, they will go there. Also it would hurt American workers. The best way to hurt Chavez IMO is to hurt HIM (if you get my drift)
This is from a fervent anti-Bush commentator:
The discussion concludes with examination of the geographical relocation of Al Qaeda elements to the tri-border area. Note that this area has historically been repository for Nazi war criminals. Note also the presence of Al Qaeda elements in Venezuela. Venezuela is currently headed by the fervently anti-American Hugo Chavez. As noted in FTR#401, Chavez has departed from OPEC policy vis a vis the pricing of its oil exports. In addition (as noted in FTR#383, Chavez has appointed Carlos the Jackals brother to a key position in the nations petroleum industry. Carlos is intimately to Francois Genoud and his milieu, as discussed in the programs cited above in connection with Genoud.) The US faces a growing risk from both Middle Eastern terrorists relocating to Latin America and terror groups from the region, a top US military official has warned. General James Hill, commander of US Southern Command, told Latin American military officers and regional intelligence analysts in Miami yesterday that groups such as Hizbollah, the militant Shia Muslim group, had established bases in Latin America. These groups were taking advantage of smuggling hot spots such as the tri-border area joining Brazil, Argentina and Paraguay, and Venezuelas Margarita Island to channel to funds to terrorist groups found the world. . . .Fernando Falcon, a former Venezuelan state security police chief, said: If I were Al Qaeda, I would be setting up in Venezuela right now. (Terrorist Groups Are Relocating to US Backyard by Andy Webb-Vidal in Miami; The Financial Times; 3/5/2003; p. 5.)