Vladimir Putin Quotes
I do not remember when I said this [oil production would collapse ], maybe in the heat of the moment, but I do not think I even said it, but I may just not remember it. I was saying that at a certain level of oil prices new deposits will not be explored. That is what is actually happening. However, surprisingly, our oil and gas workers [mainly oilmen] continue to invest.
Putin, Vladimir. "Interview to Bloomberg." President of Russia, 5 Sept. 2016.
Paul Douglas of Illinois was a world famous economist before he was elected to the Senate. He was a constant opponent of a tax loophole known as the "oil depletion allowance." Lyndon Johnson was a proponent of the allowance:. the home county of Chicago
30 years later, the same situation existed with Barack Obama as President. The independent oil producers also were doing very well, but the President’s rhetoric was not what they wanted to hear, just as they reacted to President Carter in 1982. He told Americans to conserve energy—not what oil men wanted to hear.
Vladimir Vladimirovich Putin is a Russian politician and former intelligence officer who is serving as the current president of Russia since 2012, previously being in the office from 1999 until 2008. He was also prime minister from 1999 to 2000 and again from 2008 to 2012. As of 2021, Putin is the second-longest serving European president, after Alexander Lukashenko.