Where's the love, Hugo?

Posted By Daniel W. Drezner Monday, January 5, 2009 - 9:29 PM Share

The global economic downturn is not just affecting manufacturing output or the financial sector. I'm afraid that shameless PR gestures by Latin American thugs are also going to be curtailed: 

Houston-based Citgo Petroleum Corp., the U.S. fuels and refining unit of Venezuelan state oil company PDVSA, plans to suspend its program to provide discounted heating oil to poor U.S. communities, according to Citizens Energy, a nonprofit which helps Citgo distribute the heating oil.

Citizens Energy chairman Joseph Kennedy said in a statement Monday that Citgo was calling off its heating oil aid programs in the United States due to "falling oil prices and the world economic crisis."

EXPLORE:INTERNATIONAL RELATIONS, ENERGY, FINANCIAL MELTDOWN, VENEZUELA
 
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DON S

9:59 PM ET

January 5, 2009

Discounts less neccessary than before

Actually they should already be recieving a discount. Let's say that last year oil prices were at $110 ppbl and Kind Hugo gave them a $30 discount to $80 ppbl.

Current prices are in the $40 - $45 range, which ought to bring the cost of heating down about half from Hugo's discounted levels.

 

RANDINHO

11:31 PM ET

January 5, 2009

Point Well Taken

Don S's point is well taken. I'm no fan of Hugo Chávez, but shouldn't a radical drop in oil prices obviate the need for providing discounted home heating oil?

 

Daniel W. Drezner is professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University.

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