Oilopoly

by Marshall I. Goldman

A story of oil and gas, corruption and naked power, "Oilopoly" traces the rise of the Russian oil economy from its origins in the nineteenth century right through to Vladimir Putin's determined efforts to rein in the oil oligarchs, re-nationalize Russia's industries, and pay off its international debt. Charting Putin's astounding success in transforming the country into the world's largest oil producer, Marshall Goldman argues that Russia has rapidly evolved into a new breed of superpower - one whose energy-driven economy can, at the flick of a switch, deprive entire nations of their most important resource. Narrated with panache by a world expert on Russia, this is an indispensable read for anyone interested in world politics and the future of our global energy supply.

Genres: Nonfiction, Russia, Politics

256 pages, Paperback

First published January 1, 2008

About the author

Marshall Goldman was Professor of Economics Emeritus at Wellesley College and Senior Scholar at the Davis Center for Russian Studies at Harvard University. An internationally recognized authority on Russian history, politics, and economics, he met with Mikhail Gorbachev and interviewed Vladimir Putin, and advised former President George H.W. Bush and President George W. Bush on Russia. Goldman wrote for publications like Foreign Affairs, The New York Times, The Washington Post, The New Yorker, and The Atlantic Monthly; and appeared on numerous television programs, including The News Hour, Crossfire, Face the Nation, The Today Show, and Nightline.

Reviews

[William Smith · Rating 3 out of 5]

A highly informative yet accessible fast-paced glance at the rise of new Russia as an energy superpower. Through careful examination of not only the state of energy production, efficiency, and export but also the political chess moves dating from 1898 - to the late 2000s, Goldman presents a short scholarly history of new Russia rise. Splashings of data and analysis are competently intertwined with the major events of modern Russian history including the rise of the Bolsheviks in 1917, the end of central planning under Gorbachev, and the widespread privatisation of 1992 by Yeltsin before the economic collapse of 1998. As should be when considering the rise of an oligarchy, simple yet heedful economic interpretation is introduced to frame the discussion of modern Russia primarily in terms of geopolitics, particularly the expansion of oil and natural gas exports, and pipeline infrastructure, into Europe and East Asian; Russia is dependent upon growing oil demands, steady prices, Arctic exploration, and decline of OPEC dominance. Furthermore, Goldman rightfully emphasizes the critical and fragile nature of Russia's economy, employing the term 'Russian Disease' in place of the often used 'Dutch Disease, to hammer home the unique precarious political nature in Russian that continually threatens economic stability and sustainability.

A significant portion of the book aptly is dedicated to the xenophobic reaction of directed foreign investment into Russia by political figures (primarily Putin), particularly after the fall of the USSR to survive the technology backwater and after the 1998 economic collapse post-bank defaulting, plus the ascension of Lukoil and particularly Gazprom. Moreover, the latter portions of the book ephemerally evaluates how the growing social challenges Russia faces: declining birth rate, rampant poverty, political instability, as well as the growing provocative nature of NATO and Putin resorting of the oligarchs, will unexpectantly influence the direction of Russia post-Putin.

[Mitul Choksi · Rating 4 out of 5]

This is a good book on the complicated history of oil and Russia. The book covers the various dynamics and factors that led the former Soviet Union and now Russia to become an energy superpower. A major part of this book focuses on the geopolitics of Vladimir Putin's rise vis-à-vis oil and gas and also the role played by state champion Gazprom and its pipeline network that is used to funnel Russian and Central Asian gas throughout Eastern and Western Europe. All in all, a good read

[Alex · Rating 3 out of 5]

Ok book but there was little to no new information or analysis. Perhaps it would be good as an introduction to the subject.

[Nick La Range · Rating 5 out of 5]

Fantastic, if you want to get to know the basic Russian Energy business then give this a read.