Among the books on the world energy crisis, on technological possibilities for self-sufficiency, and on various energy sources, this is one of a very few to address the practicalities of government regulatory responsibilities versus the pursuit of profit in the private sector and to look at the processes, logistics, and complex interactions among private energy companies, financial sectors, and national governments. The authors provide answers to such questions as: How do oil company operations influence government policies? What kinds of energy projects can be financed by existing financial institutions? How does the availability of insurance affect innovations in energy? They also examine how major investors and governments make decisions about the management of the volatile mix of political, economic, and technological risks that buffet the energy sector; critique the conventional wisdom concerning the major fuels; and project the likely evolution of the world energy market over the next decade.

Foreword -- Introduction -- World Trade in Oil, Natural Gas, and Coal -- The Engineers and the Price System Revisited: The Future of the International Oil Corporations -- The Natural Gas Trade in the 1980s -- The World Coal Trade in the 1980s: The Rebirth of a Market -- Government Regulation and Intervention -- Policy and Politics of North Sea Oil and Gas Development -- The Energy Utilities: How to Increase Rewards to Match Increasing Risks -- Financing Synthetic Fuels Investments in the United States: Public Support and Private Investment -- Market Competition and Risk -- Insurance, Risk Management, and Energy in Transition -- The Problems of Opportunistic Behavior and the Future of Energy Investments -- Conclusions