Energy Economics & 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 observers in the major oil-consuming nations consider the Caspian a strong alternative to the Persian Gulf, and hope that a new reliance on its resources can reduce the perennial Western vulnerabilities to price increases and threatened cut-offs. But is the Caspian region really capable of fulfilling this role? The relatively low demand for natural gas worldwide, the transitory and often perilous political situations in the Caspian, and the uncertainty regarding its oil-producing capabilities in general make the region's potential to alleviate energy source demands seem dubious. Maureen Crandall's revealing study of the relevant economic and security issues can help to more clearly separate what can and cannot be expected from this strategically important and politically unstable region. Besides examining the complex issues of cause and effect surrounding the Caspian's oil supply, this work also looks in particular at the interests of the neighbouring states of Russia, Iran, and China, as well as at the interests of the United States in the global competition for natural resources. Figures, tables, and a bibliography supplement the text, which should be of very strong interest to regional security specialists, defence economists, energy analysts, environmentalists, and anyone else interested in Central Asia and the future of energy supplies.