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> Russia doesn't only export energy. They export 30% of entire worlds commodities. Not even close. They are one of the largest exporters (some years #1) of wh
by gumby 4y ago
> Russia doesn't only export energy. They export 30% of entire worlds commodities.
Not even close. They are one of the largest exporters (some years #1) of wheat, and largest fertilizer exporter. Most of what they export is petrochemicals. Apart from that they are large in gems, and then some metals.
Basically they are roughly similar to Australia, a country with about 1/6 the the population. Russia’s main advantage in extractive industries is low labor costs and lack of environmental controls. If they lose any of that (and they are not maintaining their oil infrastructure) they will lose any advantage, as price, more than anything else, drives global extraction incentives.
- petre 4y agoThe oil was extracted from Siberia using US know how with aid from the usual suspects Halliburton and Schlumberger. Those companies have since left, so Russia has lost its competitive advantage.