Petro-czars discover humility

02/16/2009 | Newsweek

Six months ago, Russia's Vladimir Putin, Iran's Mahmoud Ahmadinejad and Venezuela's Hugo Chavez seemed unstoppable. Now, with oil selling for less than $40 a barrel, political unrest threatens their personal power. They brought this on themselves, writes Rana Foroohar, by failing to diversify or to adequately invest in their national cash cow.

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