The Global Game of Risk Just Got a Little Shakier For the U.S. – IOTW Report

The Global Game of Risk Just Got a Little Shakier For the U.S.

Venezuela has a lien on its U.S.-based Citgo subsidiary. Who has rights over this lien if Venezuela should default on its loans?

Russia.

That’s not good because Citgo, based in Texas, Illinois and Louisiana supplies us with about 800,000 barrels of oil a day. That’s not enough to cripple us-

“The Russians can’t hold the US hostage,” says John LaForge, an energy expert and head of Real Assets strategy at Wells Fargo. He says Citgo handles about 800,000 barrels of oil a day.

While it’s not miniscule, that’s just a small fraction of the nearly 20 million barrels of petroleum the US consumes daily. If Rosneft stopped refining oil at Citgo’s three US refineries, LaForge says, “Other refineries would love to pick up the slack.”

Still, do we want Russia having any controlling interest over our energy supply?

24/7

ht/ sam s.

6 Comments on The Global Game of Risk Just Got a Little Shakier For the U.S.

  1. oh yeah, …. Citgo … that was the company one of those idiot third-generation-inbred Kennedys was pushing a few years ago w/ ‘free heating oil from our friends in Venezuela”

  2. Russia is our nominal opponent to serve a very specific end. The ever present threat of destabilization and potential armed conflict.

    Both of which are carefully nurtured narratives of bullshit. But that song and dance has made billions for the right people for over six decades. So don’t expect it to go by the wayside anytime soon.

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