http://timothypost.disqus.com/A blog by a native Bostonian who is living, working, and enjoying life in Krasnodar, RussiaenSat, 02 Aug 2008 11:31:32 -0000http://www.timothypost.com/2008/05/12/pleasantly-surprised/#comment-1080227Great analysis.Russia cruiseSat, 02 Aug 2008 11:31:32 -0000http://www.timothypost.com/2008/05/12/pleasantly-surprised/#comment-930764Mostly agreed, except for two points:<br><br>1. The most eye-catching remark in Putin’s speech was clearly his promise to reduce the tax burden on the oil sector ‘to encourage oil production’.<br><br>Oil production decline is not a major issue at a time when the world has passed its oil peak and prices continue to rise fast. In fact if anything it would be a better idea to increase taxes even further so as to slow down extraction rates so as to get a better hand in the future. In any case a much more agreeable use of such a tax cut would be to subsidize wind, solar and nuclear power so as to leave over more oil for export purposes and contribute to developing a modern green economy.<br><br>2. "Making the (large) assumption that the worst is over in global credit"<br><br>That is indeed a very large and IMO flawed assumption.Da RussophileFri, 18 Jul 2008 07:05:57 -0000