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The so-called voucher privatization program of 1992–1994 enabled a handful of young men to become billionaires, specifically by arbitraging the vast difference between old domestic prices for Russian commodities (such as natural gas and oil) and the prices prevailing on the world market.
High oil prices in the 1970s induced investment in oil production by non-OPEC countries, particularly for reserves with a higher cost of production. [ 39 ] [ 40 ] These included Prudhoe Bay in Alaska, the North Sea offshore fields of the United Kingdom and Norway, the Cantarell offshore field of Mexico, and oil sands in Canada.
[10] [11] Leaders of oil-rich republics such as Tatarstan and Bashkiria called for full independence from Russia. Also throughout 1992, Yeltsin wrestled with the Supreme Soviet (the standing legislature) and the Russian Congress of People's Deputies (the country's highest legislative body, from which the Supreme Soviet members were drawn) for ...
Ray Irani, the 78 year-old chairman of Occidental Petroleum , sparked shareholder ire because he tried to oust the man who replaced him as CEO. During the past 20 years, Irani has made more than ...
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(The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves, [ citation needed ] and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at ...
Next year's budget is now unlikely to be passed, although that does not mean there will be a US-style government shutdown in France. Instead, a provisional budget mirroring this year's document is ...