Baku: "Baku, a major center of oild production, all around the road lay rusted pipes and drill rigs, idle, unmaintained, a cluttered junk heap. No wonder Soviet oil production was down." Communism fails because managers work to meet quotas, no incentives, no accountability, skimming oil from the top and running, and no private property ownership. "On of the reasons Soviets never built their capital bases, because they never built their capital." "Riding along the Caspian Sea we saw hudnreds of these discarded drilling rigs, all stripped."[Learn More ...]

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