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US pays the price of relying on foes for oil

Posted by Matt in September 9th, 2007

Best of all, Opec now knows that it can count on Vladimir Putin to help it in two ways – one intentional, the other unintentional. Putin will cooperate with Opec because high oil prices make it easier for him both to provide Russia’s people with butter and his military with guns. He is also inadvertently helping to maintain prices by allowing Russia’s oil output to fall as his former KGB and other cronies take over the country’s oil companies, and reduce foreigners to minor roles. As The Economist magazine pointed out, KGB-trained thugs “know how to grab assets and jail foes, but not how to run real businesses”.

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[Countries link to CIA Factbook. States link to Wikipedia.]


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