Energy Economics and Politics in the Caspian Region

The potential of energy resources in the Caspian region (Azerbaijan Kazakhstan Turkmenistan and Uzbekistan) has attracted much attention since the demise of the Soviet Union. Many industry analysts in the United States and other developed nations consider oil supplies from the Caspian a strong alternative to the Persian Gulf and believe that a new reliance on its resources can reduce the perennial Western vulnerability to price increases and threatened cutoffs. But is the region capable of fulfilling that role? The relatively low demand for natural gas worldwide the transitory and often perilous political situation in the Caspian and the uncertainty regarding the region''s oil-producing capabilities in general make estimates of its potential to alleviate energy demands seem dubious. Maureen Crandall''s revealing study of relevant economic and security issues clearly separates what can and cannot be expected from this strategically important yet politically unstable region addition to examining the complex issues of cause and effect surrounding Caspian oil supply Crandall examines the interests of neighboring states (Russia Iran and China) as well as those of the United States in the global search for resources. Figures tables and a bibliography complete a study that will prove of vital interest to regional security specialists defense economists energy analysts environmentalists-and anyone else interested in Central Asia and the future of America''s energy supplies.