Russia is in the process of re-nationalizing its energy industry. The Kremlin basically controls the industry. "Tax breaks" are illusory when the govt seizes your assets. Further, the govt takes most of the profit from oil prices >$30/bbl. These policies actually discourage companies from exploring new fields. Russian oil production has stopped growing and is starting to decline.
E.g.,
http://www.rigzone.com/news/article.asp?a_id=52792
Quote:
Originally Posted by Mule
I heard the absolute best just a little while ago. We are the only nation on earth not exploiting every source of energy at our disposal. While the socialists in congress are dragging oil execs to DC to be grilled and that whacked out b!tch, Maxine Waters is telling guys 1000x smarter than her that she should be in charge of the companies they run, Russia is giving oil companies tax breaks so they will do more exploration & increase production. Now wtf is wrong with this picture?
But we'll have freakin' polar bears! They'll have electricity & gas, but we'll have polar bears & snail darters, & bicycles!
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