Petrostate: Putin, Power, and the New Russia by Marshall I. Goldman

By Marshall I. Goldman

Within the aftermath of the monetary cave in of August 1998, it seemed as though Russia's day as a superpower had come and long gone. That it may get well and reassert itself after below a decade is little short of an fiscal and political miracle.

Based on vast learn, together with numerous interviews with Vladimir Putin, this revealing ebook chronicles Russia's dramatic reemergence at the international level, illuminating the major reason behind its rebirth: using its ever-expanding strength wealth to reassert its conventional nice strength goals. In his deft, informative narrative, Marshall Goldman strains how this has emerge as, and the way Russia is utilizing its oil-based strength as a lever in global politics. The booklet presents an informative review of oil in Russia, lines Vladimir Putin's made up our minds attempt to reign within the upstart oil oligarchs who had risen to strength within the post-Soviet period, and describes Putin's efforts to renationalize and refashion Russia's industries into country businesses and his vaunted "national champions" companies like Gazprom, mostly owned through the kingdom, who do the bidding of the country. Goldman indicates how Russia paid off its foreign debt and has long gone directly to acquire the world's 3rd greatest holdings of foreign exchange reserves--all by means of changing into the world's biggest manufacturer of petroleum and the world's moment biggest exporter. this present day, Vladimir Putin and his cohort have stabilized the Russian economic climate and recentralized strength in Moscow, and fossil fuels (oil and usual gasoline) have made all of it possible.

The tale of oil and gasoline in Russia is a story of discovery, intrigue, corruption, wealth, misguidance, greed, patronage, nepotism, and gear. Marshall Goldman tells this tale with panache, as just one of the world's prime professionals on Russia could.

**

Review

"One of America's such a lot professional Kremlin-watchers, Goldman's snappily written Petrostate argues boldly that Russia has develop into an strength superpower with a powerful political agenda."--The Economist

"This should be Goldman's most sensible booklet, and that's announcing much. targeting Putin's Russia with a scholar's dedication to deep and significant examine and a reporter's eye for element and colour, Goldman has defined why and the way Russia has back emerged as an international strength. the answer's oil. At inflated costs, it leads on to inflated nationwide aspirations and additional down the line to hazards of a unconditionally unpredictable nature. learn and learn."--Marvin Kalb, former Moscow bureau leader for CBS News

"Few advancements are inclined to reshape the contours of overseas politics over the following decade greater than Russia's ascent to power superpower. And nobody can inform the tale of that ascent and the demanding situations it offers with larger wisdom or aptitude for element than Marshall Goldman."--Mark R. Beissinger, Professor of Politics, Princeton University

"In Petrostate, he treats petroleum because the key to Russian energy, devoting the 1st half his short and intensely readable publication to a fast paced historical past of oil in Russia's financial progress from the mid-nineteenth century to the top of the twentieth."--The Nation

"A impressive, readable description of Vladimir Putin's position within the emergence of Russia as a profitable and possibly threatening petrostate. As an advantage Goldman additionally offers a concise survey of Russian political and monetary heritage, with emphasis upon the expansion of its oil and gasoline industries from the earliest days to the present."--James R. Millar, Professor of Economics and foreign Affairs, George Washington University

"'What is nice for Gazprom is nice for the world!' This emphatic declare through a famous Russian strength respectable lies on the middle of Marshall Goldman's well timed and sobering new learn of Moscow's petroleum undefined. Putin is on the heart of Goldman's readable research of the resurgence of Russian energy in line with petro-dollars. however the writer combines sound background with fiscal research to return to the real end that the hot assertiveness of the Kremlin is the following to stay."--Norman M. Naimark, Robert and Florence McDonnell Professor in East ecu stories, Stanford University

About the Author

Marshall Goldman is Professor of Economics Emeritus at Wellesley collage and Senior pupil on the Davis heart for Russian experiences at Harvard college. An the world over famous authority on Russian background, politics, and economics, he has met with Mikhail Gorbachev and interviewed Vladimir Putin, and has instructed former President George H. W. Bush and President George W. Bush on Russia. Goldman has written for guides like international Affairs, the recent York occasions, The Washington publish, the recent Yorker, and The Atlantic per 30 days; and he has seemed on a number of tv courses, together with the scoop Hour, Crossfire, Face the country, The this present day express, and Nightline.

Show description

By Marshall I. Goldman

Within the aftermath of the monetary cave in of August 1998, it seemed as though Russia's day as a superpower had come and long gone. That it may get well and reassert itself after below a decade is little short of an fiscal and political miracle.

Based on vast learn, together with numerous interviews with Vladimir Putin, this revealing ebook chronicles Russia's dramatic reemergence at the international level, illuminating the major reason behind its rebirth: using its ever-expanding strength wealth to reassert its conventional nice strength goals. In his deft, informative narrative, Marshall Goldman strains how this has emerge as, and the way Russia is utilizing its oil-based strength as a lever in global politics. The booklet presents an informative review of oil in Russia, lines Vladimir Putin's made up our minds attempt to reign within the upstart oil oligarchs who had risen to strength within the post-Soviet period, and describes Putin's efforts to renationalize and refashion Russia's industries into country businesses and his vaunted "national champions" companies like Gazprom, mostly owned through the kingdom, who do the bidding of the country. Goldman indicates how Russia paid off its foreign debt and has long gone directly to acquire the world's 3rd greatest holdings of foreign exchange reserves--all by means of changing into the world's biggest manufacturer of petroleum and the world's moment biggest exporter. this present day, Vladimir Putin and his cohort have stabilized the Russian economic climate and recentralized strength in Moscow, and fossil fuels (oil and usual gasoline) have made all of it possible.

The tale of oil and gasoline in Russia is a story of discovery, intrigue, corruption, wealth, misguidance, greed, patronage, nepotism, and gear. Marshall Goldman tells this tale with panache, as just one of the world's prime professionals on Russia could.

**

Review

"One of America's such a lot professional Kremlin-watchers, Goldman's snappily written Petrostate argues boldly that Russia has develop into an strength superpower with a powerful political agenda."--The Economist

"This should be Goldman's most sensible booklet, and that's announcing much. targeting Putin's Russia with a scholar's dedication to deep and significant examine and a reporter's eye for element and colour, Goldman has defined why and the way Russia has back emerged as an international strength. the answer's oil. At inflated costs, it leads on to inflated nationwide aspirations and additional down the line to hazards of a unconditionally unpredictable nature. learn and learn."--Marvin Kalb, former Moscow bureau leader for CBS News

"Few advancements are inclined to reshape the contours of overseas politics over the following decade greater than Russia's ascent to power superpower. And nobody can inform the tale of that ascent and the demanding situations it offers with larger wisdom or aptitude for element than Marshall Goldman."--Mark R. Beissinger, Professor of Politics, Princeton University

"In Petrostate, he treats petroleum because the key to Russian energy, devoting the 1st half his short and intensely readable publication to a fast paced historical past of oil in Russia's financial progress from the mid-nineteenth century to the top of the twentieth."--The Nation

"A impressive, readable description of Vladimir Putin's position within the emergence of Russia as a profitable and possibly threatening petrostate. As an advantage Goldman additionally offers a concise survey of Russian political and monetary heritage, with emphasis upon the expansion of its oil and gasoline industries from the earliest days to the present."--James R. Millar, Professor of Economics and foreign Affairs, George Washington University

"'What is nice for Gazprom is nice for the world!' This emphatic declare through a famous Russian strength respectable lies on the middle of Marshall Goldman's well timed and sobering new learn of Moscow's petroleum undefined. Putin is on the heart of Goldman's readable research of the resurgence of Russian energy in line with petro-dollars. however the writer combines sound background with fiscal research to return to the real end that the hot assertiveness of the Kremlin is the following to stay."--Norman M. Naimark, Robert and Florence McDonnell Professor in East ecu stories, Stanford University

About the Author

Marshall Goldman is Professor of Economics Emeritus at Wellesley collage and Senior pupil on the Davis heart for Russian experiences at Harvard college. An the world over famous authority on Russian background, politics, and economics, he has met with Mikhail Gorbachev and interviewed Vladimir Putin, and has instructed former President George H. W. Bush and President George W. Bush on Russia. Goldman has written for guides like international Affairs, the recent York occasions, The Washington publish, the recent Yorker, and The Atlantic per 30 days; and he has seemed on a number of tv courses, together with the scoop Hour, Crossfire, Face the country, The this present day express, and Nightline.

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Extra resources for Petrostate: Putin, Power, and the New Russia

Example text

In what will turn out to be a recurring pattern, few Russian companies bothered to keep up with the rapidly changing refining and drilling techniques. Russian oil companies also conformed to the period’s dominant international trend: ruthless corporate scheming and bitter rivalries. 22 Petrostate Inevitably, the jockeying for market share around the world by companies such as Standard Oil and Shell had some impact. Price cutting was a common tactic. As a result, many producers cut back on their operations and occasionally went bankrupt.

Depression may be a capitalist disease and it may have had no ostensible effect on the internal workings of the Soviet economy, but there is no denying that a depression of this length and magnitude was bound to have a devastating effect on the world demand for raw materials. This in turn affected Soviet petroleum export earnings. The Soviets quickly realized that they were exporting more but earning less. 1 million tons, they generated only 375 million rubles in revenue. It would take more than twenty years before the volume of Soviet petroleum exports would exceed the 1932 level.

9 COMPETITION FOR MARKETS These developments in turn attracted other prospectors, especially foreigners like the Swede Robert Nobel. 10 By 1883 production exceeded 1 million tons; by 1887 it exceeded 2 million tons (50 million tons equals approximately 1 million barrels a day). 11 However, it took more than tariffs to stem the flow. Russia had become an early battleground for oil producers seeking to carve out exclusive markets for themselves. John D. Rockefeller and his Standard Oil of the United States, as the world’s largest producer, had taken over a dominant share of the Russian market.

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