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Born at the Crest of the Empire

Friday, December 22, 2006

The Russians and their oil

Russia's efforts to reclaim control of their oil should be noticed.

(AFP) "Moscow has savoured victory after state giant Gazprom ousted Royal Dutch Shell from control of the Sakhalin-2 energy project, ending a struggle highlighting changing rules in Russia's bare-knuckle business environment."

(Telegraph) After Shell, Russia now turns on BP

(Related: The NYTimes reports on a previously withheld Interior Dept study that those huge oil company tax breaks passed in the Bush energy bill, are having very little of the desired development effect, but are instead just tens of billions of dollars in giveaways.

You're surprised, aren't you?)

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