Based on extensive research, including several interviews with Vladimir Putin, this revealing book chronicles Russia's dramatic reemergence on the world stage, illuminating the key reason for its rebirth: the use of its ever-expanding energy wealth to reassert its traditional great powerambitions. In his deft, informative narrative, Marshall Goldman traces how this has come to be, and how Russia is using its oil-based power as a lever in world politics. The book provides an informative overview of oil in Russia, traces Vladimir Putin's determined effort to reign in the upstart oiloligarchs who had risen to power in the post-Soviet era, and describes Putin's efforts to renationalize and refashion Russia's industries into state companies and his vaunted "national champions"--corporations like Gazprom, largely owned by the state, who do the bidding of the state. Goldman showshow Russia paid off its international debt and has gone on to accumulate the world's third largest holdings of foreign currency reserves-all by becoming the world's largest producer of petroleum and the world's second largest exporter. Today, Vladimir Putin and his cohort have stabilized the Russianeconomy and recentralized power in Moscow, and fossil fuels (oil and natural gas) have made it all possible. The story of oil and gas in Russia is a tale of discovery, intrigue, corruption, wealth, misguidance, greed, patronage, nepotism, and power. Marshall Goldman tells this story with panache, as only one of the world's leading authorities on Russia could. In a new preface, the author has updated the book to account for the many significant events that have occurred since the original publication: the Russia-Georgia war, which was primarily about energy; Russia's squeeze on its European gas customers in late 2008; and Putin's continuing influence overthe industry after his presidency ended.