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...rest of the country. Regular Azeris, who have an average cash income of $1,140 a year, are reeling from inflation (tomatoes have recently doubled in price). But much of Baku is upbeat and partying. "There's a mood that Azerbaijan is now sustainable," says Foreign Minister Elmar Mammadyarov. BP's operation has brought in thousands of oil workers and businesspeople, mostly British, who pack nightclubs with names like Le Chevalier and Le Mirage to dance with local women dressed in spiked boots and miniskirts. Baku's billboards announce this season's store openings, including Harry Winston, Cartier and Giorgio...

Author: /time Magazine | Title: Oil's Vital New Power | 1/12/2007 | See Source »

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