Energy matters. Not just because it drives our economy, though it does. Not just because of its links to our war against Islamofascism, though the links exist. It matters because it quietly shapes both our global foreign policies and the destinies of many countries who may become important future allies and adversaries.

In business and politics, the adage is "follow the money." With oil, a better adage is "follow the pipelines." This is a very interesting field, even without some of the nutbar conspiracy theories floating around (the dumbest one I've ever heard was definitely the "pipeline through Afghanistan is why we're going after the Taliban" theory).

Recently, STRATFOR did a profile on pipeline developments around the Caspian Sea basin. This area has substantial oil reserves, larger in fact than Saudi Arabia's... but until recently, the technical difficulties of shipping it made Siberia's wells the focus. Now there are a whole bunch of "-stans" in the region (Uzbekistan, Kazakhstan, etc.), who see development of these reserves as their ticket to the good life.

Unsurprisingly, there are many competitors for influence in that region. Russia, of course, which wants to keep as much control (and revenue) as possible by holding most of the pipeline routes. Post Sept. 11 there's the USA, which now has military relationships with many of the "-stan" states. The EU is involved, and so is BP. Not to mention Turkey, a major alternative shipment route and ethnically linked to the Turkic peoples of "the -stans".

So what's in the cards? Who's winning? Who's losing? STRATFOR's briefing is a good starting point... and I'll be covering this subject in future issues as well. Meanwhile, here's a useful map: