Monday, April 3, 2017

Lila Ingrum - Russia could soon control a U.S. oil company

http://money.cnn.com/2017/04/10/news/economy/russia-us-oil-company-citgo/index.html

It is possible that the Russian, state owned oil company, Rosneft, may end up owning American oil company, Citgo, based out of Houston, Texas. This will happen if a Venezuelan oil  company pays back its loans to Rosneft. This possibility has gotten a strong response from both Democrats and Republicans. They are saying that this could pose a huge threat to American energy security, impacting the flow and price of gasoline to American consumers. This relates to our strained relations with Russia during the Cold war. During that time the US was always scared of our security from the USSR. The only difference is that back then theirs was nuclear power instead of oil control.

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