Us Copyright Information Use the free Adobe Acrobat Reader to view pdf files Subscribe to our free automatic email notification service. In the future, investment opportunities in the oil and gas sector are likely to be concentrated in developing countries.
Project financing is scarce, however, because of the commercial and political risks.
Despite difficult circumstances, policy reform in Russia's oil sector has been impressive. Dennis Anderson Total energy consumption in developing countries is expected to soar over the next few decades. But this does not necessarily bode ill for the environment. Technological advances are making it possible to reduce pollution considerably, even as energy use increases. While most have seen a quick turnaround in their external accounts, a sharper focus on medium-term sustainability, firm nominal anchors, and better coordination of fiscal and monetary policy would help to raise growth and stamp out inflation.