The author discusses the short-term and long-term aspects of the present energy crisis. He describes the various scenarios for the immediate future and the long run that could be given place by the emerging hold of OPEC over the oil consuming countries.

Once one of the world's most important energy producers, Russia is increasingly incapable of maintaining energy supplies to its industries and private households. However, the crisis in the energy sector has also become an ecological crisis. What chances are there for finding a solution to this...

Substantial successes have been achieved since 1973 in increasing energy efficiency and substituting other fuels for oil. However, reliance on oil and oil imports remains high. The temporary easing on the oil market must not lead to complacency as any relaxation in energy policy efforts may well...