More Oil on Trouble Waters

[sartesian <sartesian@xxxxxxxxxxxxx>]

>From the World Bank Survey of the Russian Economy:

"30. Russia's economy remains fundamentally dependent on oil and gas.
According to offical statistics, approximately 80 percent of Russian exports
in 2003 were natural resources, and 55 percent of all exports were from the
oil and gas sector.  More than 60 percent of Russia's fixed capital
investments either go into the hydrocarbon industries or are in one way or
another related to the public purse.  The budget itself is dependent on oil
and gas: 37 percent of federal budget revenues originate from
hydrocarbons...."