Any realistic appraisal of global energy futures must begin with a comprehensive and balanced understanding of resources and their uses. What are the kinds and magnitudes of energy stores and flows available to supply the world's still-growing needs for fuels and electricity? And what is the intensity and pattern of their use?

The good performance of energy markets during the seven or eight years following the Gulf War masked many continuing and emerging energy policy challenges that derive from larger domestic and foreign policy issues. The changes in world oil, domestic natural gas, and electricity markets in 1999 and especially 2000 likely reflect the effects of ignoring some of these challenges.