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Reinventing energy: investing in promising new technologies.

Publication: The International Economy
Publication Date: 22-JUN-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
The world economy is being battered by sharply higher energy prices. While a few energy-exporting countries in the Middle East and elsewhere reap huge profits, the rest of the world is suffering as the price of oil has [soared] and that of coal has doubled. Without plentiful and low-cost energy, every aspect of the global economy is threatened. For example, food prices are increasing alongside soaring oil prices, owing to increased production costs and conversion of farmland from food production to bio-fuel production.

No quick fix exists for high oil prices, which reflect basic conditions...

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