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2006-10-18 Home Front Economy
Citgo launches ad campaign amid backlash
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Posted by Fred 2006-10-18 00:00|| || Front Page|| [5 views since 2007-05-07]  Top

#1 "Aren't affecting the bottom line."

Bulltwaddle. There is no reason why Citgo would spend a bunch of moolah on fighting a negative image that didn't exist and wasn't hurting them.

It's hurting them, and when the stock analysts get wind of the damage, Citgo shares will go in the dumper, even more so than lower earnings due to lower prices have reduced their value.
Posted by Rivrdog">Rivrdog  2006-10-18 01:24|| http://rivrdog.typepad.com]">[http://rivrdog.typepad.com]  2006-10-18 01:24|| Front Page Top

#2 great idea. Spend a bunch of money to remind the public that it is Citgo they are supposed to boycott - just in case they had forgotten (which I sure many had). Brilliant, Holmes, Brilliant!
Posted by anon 2006-10-18 01:41||   2006-10-18 01:41|| Front Page Top

#3 Prices are falling. Thus for the moment supply exceeds demand. A boycott of a specific oil company, e.g. Citgo, can only be effective when that is the case. You won't be able to break Chavez - somebody will buy his gas at some price that is still profitable for him - but you can make him squirm, and probably make 20 cents or so per gallon less than he otherwise would.
Posted by Glenmore">Glenmore  2006-10-18 07:15||   2006-10-18 07:15|| Front Page Top

#4 "For all intents and purposes, most people don't even know they're owned by PDVSA,"

Evidently, enough of them do.
Keep running your mouth, Hugo. You'll do the job for us...
Posted by tu3031 2006-10-18 08:33||   2006-10-18 08:33|| Front Page Top

#5 I don't buy Citgo (Venezuelan) or Lukoil (Russian). I'm not contributing to propping up enemy dictatorships.
Posted by Darrell 2006-10-18 08:56||   2006-10-18 08:56|| Front Page Top

#6 I buy the cheapest gas I can. I'm not rich enough to buy ineffective political statements.
Posted by Nimble Spemble 2006-10-18 09:00||   2006-10-18 09:00|| Front Page Top

#7 And just remember that the real enemy enablers are those who keep obstructing extraction of our own domestics supplies of oil and gas. ItÂ’s easy to blame Hugo just as its easy for Hugo to blame the Yankee. However, the cartel of evil are able to sustain themselves because of decades and generations of NIMBY.
Posted by Procopius2k 2006-10-18 09:48||   2006-10-18 09:48|| Front Page Top

#8 I don't buy Citgo

How do you know? Unless you buy branded Shell or BP or Exxon (and sometimes even then), you have no idea of who sold the gas to the local station. If you buy Bingo gas or some such, you're as likely to get Citgo as any other.

That's a major reason why I never went in for those "Boycott brand X" campaigns. All you do is punish the guy running the station, usually someone who has his whole net worth invested in his store. The producers just sell their excess to jobbers on the market, which matches the higher supply with the higher demand of everyone who switched to some other brand.

Total Demand = Total Supply -> prices constant.
Posted by Jackal">Jackal  2006-10-18 11:00|| http://home.earthlink.net/~sleepyjackal/index.html]">[http://home.earthlink.net/~sleepyjackal/index.html]  2006-10-18 11:00|| Front Page Top

#9 "We understand that, as a corporation, we cannot always control the environment in which we operate, but we feel compelled to set the record straight out of respect for our employees, business partners and consumers,"

Unadulterated hogwallow. You sir, work for a two-bit marxist anti-American thug, bent on rallying other thugs for our destruction. That cannot be spun away. You may not like the characterization, but that doesn't make it any less true. Bite me, Citgo.
Posted by mcsegeek1 2006-10-18 12:17||   2006-10-18 12:17|| Front Page Top

#10 I was the same way about a year ago. I boycotted just about every gas place except the ones we have here on base and Hess. I then watched Britt Hume recently on FOX News & a segment w/Cavuto/Boortz and some other money experts on debating this very subject. The result was that boycotting Citgo really did hurt the Americans who worked there a lot more than Hugo. I was kind of dissapointed because I really hate that fucker Hugo and I love boycotting places (yes, I revel in being a vindictive fuck). However, I trust that I got the straight scoop overall.
Posted by Broadhead6 2006-10-18 12:29||   2006-10-18 12:29|| Front Page Top

#11 "Sanctions hurt NK civilians more than Kim"

"Boycotting Citgo hurts employees more than Hugo"

I see no intrinsic difference between these two rationales. If you work for Citgo, I sympathize with you if the boycott causes you hardship. But then again, tough sh*t. Go work for someone who's ultimate goal is not the destruction of the United States. Nobody forces you to work there.
Posted by mcsegeek1 2006-10-18 12:33||   2006-10-18 12:33|| Front Page Top

#12 Lol, BH6! I'm disappointed, too, though.

I still boycott everything from Olde Europe and China. Russia? WTF do they export 'sides oil? Oh, yeah, I forgot: hookers, air defense systems, night vision goggles, nuke reactors... Lol.

NS - I though all the Spembles were rich... Or is that how you got rich? Lol.
Posted by .com 2006-10-18 12:35||   2006-10-18 12:35|| Front Page Top

#13 The foreign something-other started squealing right after hugo's tour de force at the UN.

It's those middle Americans causing problems.

I'm sure it was posted here somewhere.
Posted by anonymous2u 2006-10-18 13:49||   2006-10-18 13:49|| Front Page Top

#14 (yes, I revel in being a vindictive fuck).

You made a wise career choice.
Posted by Shipman 2006-10-18 13:53||   2006-10-18 13:53|| Front Page Top

#15 I recommend buying Valero (they operate under several names such as Beacon, Shamrock, Diamond Shamrock, and Ultramar).

Valero appears, from a Wikipedia entry, to be entirely American-owned, is based in San Antonio, Texas, has $80 billion in sales a year, and their name stems from the mission most commonly known as The Alamo, all of this according to Wikipedia.

While oil is a fungible product, you don't have to give your money to non-American stores.


Posted by FOTSGreg">FOTSGreg  2006-10-18 16:01|| www.fire-on-the-suns.com]">[www.fire-on-the-suns.com]  2006-10-18 16:01|| Front Page Top

#16 Did not know that about Valero. I may just change by buying habits.

I agree with McGeek, if you work for Citgo you should be looking for another job not asking for our sympathies.
Posted by rjschwarz 2006-10-18 16:52||   2006-10-18 16:52|| Front Page Top

#17 Not to keen on buying from the Saudi's, but Hugo's made it EASY to boycott Venzuela. Too bad Citgo, you lose.
Posted by DMFD 2006-10-18 17:59||   2006-10-18 17:59|| Front Page Top

#18 More info on Valero (no, I don't own stock or have any financial interest),

Source: http://www.theoildrum.com/story/2006/7/18/9456/93641

Valero's 18 refineries chew through 3.3 million barrels of crude oil a day, oil that the San Antonio-based company buys from around the world.

The Department of Defense has awarded Valero Energy Corp. a $36.8 million contract to supply military-grade jet fuel to the government of Israel -- the United States' key ally in the Middle East.

Of the 3.3/mbd of crude oil processed, about 65% is bought under long term contracts. The remaining 35% is bought on the spot market.

Valero buys 25% of its oil domestically. The rest is purchased from countries all over the world including Mexico, Saudi Arabia, Iraq, Kuwait, Venezuela, Ecuador and several nations in Africa.

Refineries that can turn heavy sour crude into gasoline aren't evenly distributed around the world. Europe and the United States have more than their share. About 60% of the crude refined in 2005 by Valero Energy (VLO, news, msgs), for example, was heavy sour crude.

The 3.3 million barrels Valero buys and processes each day represents almost 4% of world production.

Posted by FOTSGreg">FOTSGreg  2006-10-18 18:43|| www.fire-on-the-suns.com]">[www.fire-on-the-suns.com]  2006-10-18 18:43|| Front Page Top

#19 I've been boycotting Citgo for years.

There are cheaper good gas brands available.
Posted by Barbara Skolaut">Barbara Skolaut  2006-10-18 19:43|| http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]">[http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]  2006-10-18 19:43|| Front Page Top

#20 #14: (yes, I revel in being a vindictive fuck).

You made a wise career choice.

You're on a roll today, Shipman! :-)
Posted by trailing wife 2006-10-18 22:00||   2006-10-18 22:00|| Front Page Top

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