Exactly! This is what the Kremlin is forcing the energy sector to do! One of the reasons why it decided to take over the energy sector in the first place (like most major energy exporters). Russia's oligarchs have heard the message loud and clear - invest at home, as well. Russia's richest now "check in" with the Kremlin to assure that private money is being invested in low margin sectors (it has probably kept more than a few out of jail). Doug Henwood <dhenwood@panix.com> wrote:<blockquote class="replbq" style="border-left: 2px solid rgb(16, 16, 255); margin-left: 5px; padding-left: 5px;"> Peter Lavelle wrote: >Until very recently, oil profits have NOT been invested in the >non-energy economy ( the margins weren't there, so why bother?). Long-term development, no? That's what a state is supposed to manage, because private capital isn't interested in that sort of thing. Doug ___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk </blockquote> <hr size=1>How low will we go? Check out Yahoo! Messenger’s low <a href="http://us.rd.yahoo.com/mail_us/taglines/postman8/*http://us.rd.yahoo.com/evt=39663/*http://voice.yahoo.com"> PC-to-Phone call rates.