Posted on 12/02/2014 6:21:33 AM PST by blam
Tomas Hirst
December 2, 2014
Russia's Economy Ministry has downgraded its GDP forecast for the country in 2015 from 1.2% growth to a 0.8% contraction. In other words, the country is falling into a recession.
The net amount of foreign capital expected to flow out of the country in 2014 has been revised sharply upward to $125 billion (up from $100 billion), while the projection of net outflows for next year has also been increased, to $90 billion from $50 billion.
The independent Russian news agency Interfax reports Deputy Economic Development Minister Alexei Vedev as saying that the downgrade reflects the decrease in the forecast average price of Urals crude next year from $100 a barrel to $80 a barrel.
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(Excerpt) Read more at businessinsider.com ...
While it's pretty clear that lower oil prices are great for the average US consumer, many are worried about what will happen to the massive US energy sector.
Since the advent of modern hydraulic fracturing, the energy production industry has been a robust source of new, well-paying jobs.
IBTSPOP!
(In before the shirtless pictures of Putin!) :)
American energy independence will destroy Putin faster than anything. Hence you see why Obama opposes the concept.
Robust American Energy Production is the key to a safer world.
"This is a golden time window to acquire more strategic oil at lower costs," notes one Hong-Kong based analyst, as Bloomberg confirms what we have noted here and here, that China is emerging as the winner from OPEC’s battle with rival oil producers as the world’s biggest energy consumer stockpiles crude.
Obama is looking to stomp out two foes, Putin and US oil producers, with OPEC’s support.
What happened to all the Putin fans here?
Drill Baby Drill!
Like Reagan, Obama is beating back the Russians by killing their economy. This man is BRILLIANT I tell ya!!!
................................................wait for it................
Right now Putin longs for the sound of tank engines revving in the morning.
Check EnglishRussia site ,Russia is being reclaimed by Forest
LOL! I get it...
‘Zactly!
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