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Lundberg Letter Current Issues    
Issue DateTitleSubjectsCAPTION
Jun 03 2021
Citgo Still in Limbo
UNDER NEW MANAGEMENT, SHARE STILL SHRINKING
Company Profile

Market Share

Citgo Petroleum has been eligible for court seizure since 2018 due to nationalization and unpaid debts of Venezuela. In 2019 a new board of directors was installed with the blessings of the United States government. Since then, Citgo managed to increase its refining capacity. However, its gasoline market share and station count have continued their long downhill march as its status as a downstream arm of state-run Petroleos de Venezuela remains in limbo.
May 13 2021
Dry Tanks, Wet Punditry
COLONIAL CLOSURE EMPTIES STATIONS, OPENS ISSUES
Supply/Demand



Almost instantly following Colonial Pipeline's closure, several thousand Southeast stations went dry thanks to paralyzed retailers unwilling to risk legal prosecution for hiking price enough to prevent a run on gasoline. Punditry is calling it "panic" buying, when it is in fact logical to top off one's tank in a supply emergency. This report gives the schematics of how and why stations run out of product when politicians do not allow market clearing prices.
 

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