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Gold/Mining/Energy : LUKOY The largest oil company in the world LukOil unknown -- Ignore unavailable to you. Want to Upgrade?

To: Fred Levine who wrote (834)	6/16/2001 3:15:44 PM
From: Rob Shilling	Read Replies (1) \| Respond to of 914

Thanks for the info Fred. On Lukoil's costs: I know that their production costs are very low at $2-3 a barrel. Now, they may have access to oil in the far north that has higher costs with current technology. Yea, I believe Russia is improving. The corner has been turned. Russia was like a big ship that was very hard to turn. But, now that the turn was made, there is no going back. Yeltsin didn't know much about capitalism, I will agree to that. But, I think the biggest threat to Yeltsin was a return to communism. That is the reason why Yeltsin did not trust many people I think. Communism was such a threat that if you look at the 1996 re-election of Yeltsin, it was really orchestrated by the oligarchs controlling the media. The oligarch's decided communism was worse for business than Yeltsin. The asset distribution had to happen somehow. Yes, a few got a lot. But, there has to be a beginning to capitalism. Some of the oligarchs have already lost their big net worths in the crisis of 1998 which showed that not re-investing profits can kill your business. Putin for his part, is now using guilt psycology on the oligarchs to get them to fund social welfare. In fact the CEO of Sibneft is doing just that in Russia's far north territory!!! Russia has turned the corner. The Russian stock market looks to have finally figured this out. Russian mutual funds are the best performing of the year so far!!