View on Oil Industry

[Stranger]

Will the industry develop in the future and why?

What achivements do we get so far ?

And will the nationalization work and when?

BP's and Other Copmanies role in Oil Industry?

Money from Oil where are they and why shouldnt we let them work for us?

[Tofig]

I gues, the company's may stay in Azerbaijan, but the way that the money from them dissapears have to change. BP or other companys like BP buy it, yes they also support our national criminal system. But they are not asking to keep away the earned money. The money which comes from the oil business goes to international acounts of european countrys. So Azerbaijan and Azerbaijani's never even smell the money :-).
The first thing to happen must be :

The money must stay in Azerbaijan.
The money must be invested in Azerbaijan and Azerbaijani's, kept alieve.

if those first steps are done, Azerbaijani economy will grow with at least 20-30% . Cause now all the money goes in the european bank on acounts of govermental guys. and it's actualy a big mistake cause if the same money was in the banks of Azerbaijan and as they invest in other country's was invested in Azerbaijan than the earning % could be more higher and Azerbaijan would be much richer and stronger.
but for some reason they choose no to do that way.

[Famil]

Tofig, you are totally right about petrodollars disappearance. But, we can't deny the fact that people really see them. Azerbaijani budget has increased about 10 times since 2003. When you are in the streets of Baku, you see thousands and thousands of overseas made cars with a great portion of luxury cars. The money has flooded the country over the past 2-3 years. The inflation rate is very high which is an indication of a Dutch Decease. We have lots of money and we do nothing with it. Generally saying, Azerbaijan doesn't produce anything apart from hydrocarbons. Government tries to increase the wages but the real salaries remain pretty much constant. Therefore, money simply disappears.
I don't think that money should remain in Azerbaijan. It's a very wise desicion to set up an oil fund which puts petrodollars in very stable foreign banks since we have firm revenues from the interest rates which can be spend on financing domestic business. If all of the money is invested into the country we will have hyper inflation. These are the lessons learned from the experience of European countries.

[Seymur]

I think Tofig means that the money should be invested in it's real meaning, our goverment does not invest in any funds, nor in any big company's in europe or alse, our goverment puts the money in their own acounts. Azerbaijan is source rich country they can invest money and build factory's and invest in our own inprovement, but no they destroy factory's and build a park in place of it :-) Aliev's park. baku is 50% made of Aliev's parks :-). I dont understand it. they even managed to bring hem here in uk put he's face in museum in UK. So they need to bring back work to our villages. What they do is for example buy import fruit to our country , WE HAVE THE BEST FRUIT, WE HAVE 9 SEASONS IN AZERBAIJAN WE DONT NEED SOME STUPID IMPORTED CHEMICAL FRUITS. and badest thing is they import thoes from or via armenia, . What kind of politic's is this ? we stop producing our own best in the world "water melon" or other same kind of things, and we import it for gold price from other country's. to buy meet in Baku is more expensive than in UK, or othe european country's.
I'm not talking about things imported from armenia which contain chemical additions which distroys womans healt, only in last 2 years hondereds of woman lost their ability to get children, and after many researches international and national researchers proved that it comes from chemicals found in imported stuff which was imported from armenia, or via armenia.
So we need to have and invest our Azerbaijan money in rebuildin our own Azerbaijan. to make it at least as it was in soviet time, and make it even better in economical and other ways.