Number: RS21190 Title: Caspian Oil and Gas: Production and Prospects Authors: Bernard A. Gelb, Resources, Science and Industry Division Abstract: There is a likelihood of large reserves of crude oil and natural gas in the Caspian Sea region, and a consequent large increase in oil and natural gas production from that area. Because diversity of energy sources is a consideration in Congressional deliberations on energy policy, this prospect could play a role in such discussions. However, there are notable obstacles to increases in Caspian Sea region production of oil and gas that may slow development. Pages: 6 Date: January 8, 2007