Yeah Russia is full of brain surgeons and rocket scientists......
BTTT
I also have seen reports that the needed investment in the oil infrastructure in Russia would amount to something like 12% of gross revenues over the next 20 years. A no brainer and automatic in any society with real ownership rights. Instead the companies don't expect to get more than a third of that, and have to beg the state for tax breaks to go higher. Why? Because all the goons doing nothing have grabbed all the remainder for decades and won't let a drop go.
This is beautiful.
You know, it’s almost like government takeovers of private industry ruin productivity. Crazy thought, I know.
But from 2004 the Moscow government changed its tax regime and began to take over privately held assets, including Yukos, and so Saudi Arabia’s fears proved short-lived.
My question is WHY are the Saudi's worried about it? And why did Russia have to put a stop to it? Is their "fear" the reason WE can't drill our own even though we have so much of our own, we shouldn't even need the Saudi oil?
“But comrade, wasn’t it a disaster when the communists nationalized the oil industry?”
“That was because it was communist nationalization. This is capitalist nationalization. It is completely different. And don’t call me comrade.”
“Yes, comrade.”
“Better.”
yuk, yuk!
good 4 putin!
The private sector wins hands down.
The Russian Thugocracy will learn it the hard way.
Stupid, Greedy Bastards.