Over the past four years, Russian oil production has grown by 25 percent. In February of 2002, Russia surpassed Saudi Arabia to become the world’s top oil producer--pumping 7 million barrels per day against the Saudis' 6.9 million.

Can Russia save America from dependence on unstable Middle Eastern regimes? What are the long-term technological, commercial, and political prospects for Russian oil production? What are the obstacles to increased investment by American oil companies in the exploration, production, and transportation of Russian oil?

A panel of experts will address these and other questions. Participants will include Fiona Hill, a senior fellow in Foreign Policy Studies at the Brookings Institution; James Richard, a portfolio manager at Firebird Management; and Leon Aron, resident scholar at AEI.