Under the EU-wide Emission Trading Scheme (ETS), CO2 allowances have thus far been allocated largely free of charge. This paper presents a didactic synthesis on the impact of the ETS and argues that such a cost-free allocation will lead to an increase in electricity prices even when strong...

The gas-pipeline deal planned between the Soviet Union and several Western European countries has met with objections from the US government, which fears that Western Europe could be politically blackmailed as a result of its increasing dependence on energy supplies from the USSR. Are these...

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...