The conference titled “Caspian Pipelines: The Keys to the New Oil Rush” focused on the oil trade and pipelines in the area around the Caspian Sea. The speakers said that the opportunities and transportation solutions for this gas and oil will have a profound impact on the global energy industry in the next century. They also talked about the geopolitics of the Caspian region. Secretary Pena addressed the need for oil produced in that region, emphasizing that most Americans know little about the Caspian area and its relationship to the global economy. He also talked the U.S. commitment to work with Russian and the former Soviet states. After his prepared remarks, he took questions from the audience.