The govt should share in the risks? I though risk taking was the price for profit taking. Or did I get my capitalism religion wrong?
Fucking assholes!
Joanna
Chris Doss wrote:
>The horror! The horror!
>
>IMF Chairman Says Russia Guilty of
Resource
>Nationalism
>Created: 12.09.2006 16:50 MSK (GMT +3), Updated: 16:50
>MSK
>
>MosNews
>
> Chairman of the International Monetary Fund (IMF)
>Rodrigo Rato said on Monday, Sept. 11, that a trend to
>resource nationalism is gathering pace in Russia,
>Venezuela, Bolivia, Chad and Algeria.
>
>Rato pointed out that, emboldened by high oil prices,
>the government of these countries are seeking more
>cash and control from multinational corporations that
>drill in their oil and gas fields.
Recent moves in
>various producer countries to change the taxes or
>terms of contracts of oil companies may raise
>government revenues in the short term,
the IMF
>official said, quoted by Reuters.
But this could
>backfire, as they create significant disincentives to
>new investment in oil production, thus ultimately
>affecting the governments long-run revenues.
>
>Rato called on governments of oil-producing countries
>to ensure their polices encouraged investment and
>spread risk between themselves and the firms drilling
>for oil.
>
>Speaking of other matters, the IMF chairman said that
>Russia and some other oil exporters could benefit from
>more flexible exchange rates, which would help to
>contain risks of over-heating.
>
>http://mosnews.com/money/2006/09/12/ratorussia.shtml
>
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