CASPIAN OIL IN THE REGIONAL ECONOMIC AND WORLD POLITICAL CONTEXTS

Gennady STARCHENKOV


Gennady Starchenkov, D.Sc. (Econ.), chief research associate, Institute of Oriental Studies, Russian Academy of Sciences (Moscow, Russia)


In May 2005, a fairly pompous ceremony in Baku marked the filling of the Azeri stretch of the Baku-Tbilisi-Ceyhan pipeline (BTC) with oil. A lot of high flowing words were said as the oil reached Georgia and Turkey. In November, the wave approached the shores of the Mediterranean. Those who spoke at the final celebrations in Ceyhan were convinced that the pipeline would radically improve the economic and political situation of all the local countries, primarily Azerbaijan, Georgia, and Turkey, and would make them more stable and secure. After a while, however, the emotions aroused by the inflated expectations subsided under the pressure of more rational assessments of the geopolitical and regional changes brought about by the project of the century.

Local Oil and Globalization American Style

The continued prosperity of America and the states of the golden billion depends on raw materials supplied by other countries, their own resources being fairly limited. This explains the zeal with which the United States and its allies are trying to gain access to the natural riches of others. The methods are well known: liberal reforms and


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