Paperback: 264 pages
Publisher: Oxford University Press (January 20, 2010)
Language: English
ISBN-10: 0195398637
ISBN-13: 978-0195398632
Product Dimensions: 9.1 x 0.7 x 6 inches
Shipping Weight: 13.4 ounces (View shipping rates and policies)
Average Customer Review: 4.1 out of 5 stars See all reviews (20 customer reviews)
Best Sellers Rank: #901,295 in Books (See Top 100 in Books) #201 in Books > Politics & Social Sciences > Politics & Government > International & World Politics > Trades & Tariffs #301 in Books > Engineering & Transportation > Engineering > Energy Production & Extraction > Fossil Fuels #706 in Books > Politics & Social Sciences > Politics & Government > International & World Politics > Russian & Former Soviet Union
"Petrostate" provides good insights into Russia's comeback after its late 1990s nadir, as well as an understanding of its economic-political strategies.Russia regained its place as the world's largest oil producer in 2007; energy generates about 30% of Russia's GDP and 60% of its exports. Russia is a major energy provider to Europe and the U.S. The U.S. buys $10 billion of Russian petroleum, LUKoil bought nearly 3,000 U.S. filling stations from Getty Oil and Mobil. Gazprom also provides LNG to the U.S., via a swap arrangement with Algeria. It also provides natural gas to 405 of Germany's homes and many of its factories, as well as much of the rest of Europe. Russia's Gazprom pipelines also play a major role in delivering gas from the "stans."There is a fair amount of evidence that CIA chief Casey (Reagan administration) worked with Saudi Arabia (mad at Russia for invading Afghanistan) to break Russia's economy via increased S.A. production - however, the data do not provide a clean fit supporting this theory. Low energy prices in 1998 led to Russia defaulting on its debt, as well as many bank failures within the country. Prices quickly recovered in 1999, and along with a 40% increase in production between 2000-2004 transformed Russia into a major holder of foreign currencies. Russia has avoided the "Dutch Disease" because it didn't have much manufacturing, other than defense industries, to start with.Mass privatization did not begin until mid-1992 under Yeltsin. Oligarch-controlled banks loaned the state money in exchange for stock certificates; most of the state's economic problems were due to companies and individuals failing to pay taxes - only about 3 in 70 did, and even those usually paid much less than owed.
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