Russian Oil: Heads I Win, Tails You Lose
12/24/08 08:57
High oil prices earned Russia the tax revenue to renationalize its oil companies as oil prices fell.
High oil prices served Russia well - financing a military buildup and allowing it to build big cash reserves from tax revenues. But now prices are low, Mr. Putin is using its cash to renationlize the oil companies (along with steel, iron and other firms) in another dangerous step towards rebuilding the Soviet Union. His next step?Read More...
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"$80 to $100 Is A Fair Price For Oil..."
11/26/08 19:40
According to our “friend” President Hugo Chavez of Venezuela at today’s press conference with Dmitry Medvedev “President” of Russia: "Let's look for a band between $80 and $100; we're thinking about that," Chavez said Monday. "We think that price would be a fair price for oil." Venezuela & Russia are seeking OPEC production cuts...Read More...