| mai said: And other point you've seemed to ignore, and mind you, rather important one, since it completely destroys yours (if what's above is not enough for you :D ). How much actually Russian goverment is involved into oild production? 30%, that's the share of govermentally owned companies, while the rest 70% goes to privately owned in Russia by oil production in 2010: http://ru.wikipedia.org/wiki/Нефтяные_компании (see first chart). Source: InfoTEK (№1, 2011). You've ignored my request to define stagnation, ok, at the very least define nationalized industry, 30% is enough?
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A) Most other countries have hit there limit for oil production.
Russia's oil production has been greatly underrepresented for a while until privitization came... which shows why, coincidentally it skyrocketed once it started. Then coincdentally dropped as soon as the risk of the government taking your company away started. The fact that would oil production is down pretty much highlights the problem.
You can tell the difference between stagnation due to external factors and stagnation due to oil avaliability by the way oil production looks.... if it's due to oil availability, Oil production will spike and drop as new forms of cheap oil are found/it becomes more economical to get cheap oil It will jut and juke like crazy. If it's due to external factors it will be a steady "neat" graph as less money is put into discovery and the number of new areas being built slows down. Compare Russia, who's oil troubles come due to political problems, and Saudi Arabia, who has avaiability issues. (and tries to hide it.)
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The difference becomes pretty apparent. If it's not aparent enough, i'll point you to the US a country who's oil production is unquestionably tied more to politics then availability.
And I did define stagnation, a great lowering of the production growth rate as soon as renationalization began. Is 30% control of the industry enough? I'd say so, when the message is "do well enough and we'll want to take your oil."
For example markets in war torn areas of the middle east are seen safer then peaceful nations in South American by oil companies because damage can be fixed, the government stealing your industry?
As for investment ratios.... not really. Investment ratios in an unhampered market pretty much rise or fall as the economy does. When the economy booms, so does investment ratios as people have extra money and a lot of them invest it. This never really happened.
As for the brevity of my posts. I'm just not a fan of an ad nauseum approach like yours where I create a giant wall of text where maybe 1 thing is relevent and hope that it causes someone to give up just by the sheer size of it. I consider it being polite honestly.
