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My lifelong dream of owning shares in a state-controlled autocratic natural gas monopoly just took one step closer to becoming reality. The Russian “parliament” “voted” to allow foreign ownership in shares of Gazprom. The Das beat the Nyets 338 to 226. Much shoe-banging and vodka drinking followed. The reform will probably take effect before the end of the year.

During the last commodity bubble, the Russians reinvested their profits in a strategic merger—Afghanistan. So I consider this to be progress.

Posted by edelfenbein at November 25, 2005 2:22 PM