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Essay on Oil Export for a Unified Caspian Oil Conglomerate

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Oil Export for a Unified Caspian Oil Conglomerate

Introduction

Oil resources are the focal point of almost all international disputes in the present century as every country needs oil to power its electrical grids, run its automobiles, and operate its machinery. The vast majority of accessible oil lies in the extremely unstable Middle East, whose countries form most of OPEC and have a viable monopoly on oil production and pricing. The troubles caused by this situation thus come to no surprise as high demand and monopolistic supply give omnipotent control to the supplier.

The Caspian Sea region is seen by some as a possible answer to the problems of OPEC control. The Caspian Sea and the surrounding states contain 10 billion …show more content…

Russian and Kazakhstan occupy the northern half of the sea coastline and Turkmenistan, Azerbaijan and Iran take up the southern section. Azerbaijan, Kazakhstan and Turkmenistan all received independence from the Soviet Union in 1991 and have all recently begun to see the economic benefits of foreign investment and oil

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