Russian Aggression and Oil Prices #
February 22nd, 2008 | In Worth Knowing
The American make a pretty interesting comparison between the price of oil and Vladimir Putin’s aggression abroad.
We found that as the price of oil rose, the aggressiveness index increased: that is, the more valuable oil became, the more hostile Russian foreign policy became. The reverse was also true: when oil prices dropped in 2001 and 2002, so did Russia’s aggression. The relationship proved strongest at the annual level: a $1.48 increase in oil prices yearly correlated with an additional “point” increase in Russian aggression.