The opening of the Caspian Sea basin to Western investment
following the breakup of the Soviet Union produced a major contest
for access to the region's vast energy reserves on the part of
powers as close as Russia, Turkey, and Iran, and as far away as
Japan and the United States. Indeed, the struggle to exploit
Caspian oil has been one of the most monumental geopolitical
developments of the post-Cold War era as external powers vie for
political, economic, and military influence in a region brimming
not only with oil, but also with ethnic conflicts and historical
animosities.
The coming decade of rapidly increasing demand for energy will
ensure the continued interest and engagement of external powers
with often competing geopolitical agendas. Thus the geopolitical
developments spawned by the opening of the Caspian Sea are likely
to continue to far outweigh the actual impact of Caspian oil on
world energy markets. This collection of essays by prominent
scholars and international experts offers several important and
often conflicting interpretations of the events unfolding along the
shores of the world's oldest oil-producing region.
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