Hannibal Barca wrote:Nobody was expecting, and it isn't rational either, to expect oil down to 18$
Russian economy has a lot of shortcomings but this is economic war.
This is not the time to make changes and adopt policies, this is the time to squeeze time and if you survive you sit to the winner's table.
Later Russia must finally decrease the influence from hydrocarbon exports.
Dependence on oil and gas by Russia is a NATO propaganda trope. The Russian government taxes resource extraction instead
of the population. That is why the fraction of oil and gas is so high in the government revenues and why Russians
pay a 13% flat income tax. The Russian economy is already sufficiently diversified since oil and gas account for less than
13% of GDP. Listening to all the yapping on this subject one would think that it is over 80% of GDP.
There is simply zero urgency for any adjustment away from oil and gas. No policies should be implemented to force
the natural evolution of the Russian economy. The crisis is being manufactured by NATO propagandists who want Russia
to act stupid and shoot itself in the head with moronic reforms that will put the tax burden on the general public. NATO
wants political discontent in Russia and taxation increases are a great tool to achieve such discontent.
The whole notion of forcing GDP diversification in a capitalist economy is nonsense. It is basically central planning. So
NATO wants Russia to centrally plan itself into problems in the name of some BS about "too much" dependence on oil and
BTW, the current oil price is destroying the Canadian oil industry and putting Canada into a recession. It is also destroying
the oil industry in the USA that relies on high prices to be viable. Clearly, this price slump is self-limiting. Sooner rather than
later the supply will fall enough to create a major price rebound even if the world is in a recession.