Russia on the verge of decline

Oil production is set to decline this year for the first time in a decade, a decline that is widely expected to accelerate rapidly in 2010. Of Russia's 14 largest oil fields, seven are more than 50% depleted. Production at its four largest gas fields is also in decline. Russia drilled about four million feet of new wells last year. In 1990, it drilled 17 million.

...For much of its history, Russia has been a weak state masquerading as a strong one -- a psychological profile in insecurity.

Global View - WSJ.com

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