Many of the present difficulties of the world economy have been blamed on the two oil-price explosions of the 1970s. Professor Chichilnisky shows that, at least in the case of the oil-importing developing countries, the negative effects have been overestimated. In fact, in some respects the oil...

Energy security, economic development and averting global warming are conflicting objectives in a fossil fuel economy. In the long run, sustainable development requires a shift to renewable energy sources. In the short run the climate change problem requires swift action2 and different...