Tuesday, October 21, 2003

Caspian: The New Great Game: "The main spoils in today's Great Game are Caspian oil and gas. On its shores, and at the bottom of the Caspian Sea, lie the world's biggest untapped fossil fuel resources. Estimates range from 110 to 243bn barrels of crude, worth up to $4 trillion. According to the US department of energy, Azerbaijan and Kazakhstan alone could sit on more than 130bn barrels, more than three times the US's reserves. Oil giants such as ExxonMobil, ChevronTexaco and BP have already invested more than $30bn in new production facilities."

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