In this unique work, Jennifer Considine and William Kerr contend that while OPEC currently dominates the international oil market, Russia will be a key player in the future international energy market. Indeed, Russia's petroleum resources rival those of Saudi Arabia.More than almost any other industry, future performance is often determined by the influence of decisions made in the past. This book provides a detailed history of the development of the Russian oil economy in order to build up a comprehensive and discerning picture of its future role and significance in the global energy market of the 21st century.

The authors of this path-breaking treatment of the Russian oil economy present:



an assessment of the effects of the political and macroeconomic development of the Russian Federation and former Soviet Union on the resources, reserves and infrastructure of the current oil industry
an economic evaluation of the contemporary policies and institutions in the Russian Federation, including policy recommendations and forecasts
detailed statistics on all aspects of the Russian oil industry, including reserves, production, five-year planning targets, government policy, and tax rates, from 1860-2001.

The Russian Oil Economy will be of enormous interest to a wide-ranging audience, encompassing oil industry executives and analysts, investment bankers, energy consultants, energy policymakers, and those involved in the study, teaching and research of energy, Russian history and transition.