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.

One of the more unhappy effects of the recent, massive rise in the price of crude oil has been its impact on those developing countries not fortunate enough to be oil exporters themselves. The authors offer a proposal for rechanneling some of the oil revenues to the impacted developing countries.

Negotiations on agriculture have for a long time been the centre piece and the stumbling block of the Uruguay Round. While the EC has had to bear the brunt of public criticism, the US has clearly contributed its fair share to bringing about the present unsatisfactory state of affairs. This...