Summary

p>Rising oil prices led to a doubling of the price of internationally traded coal in 2004 and a further doubling is expected this year. Unfortunately, however, these higher energy prices could collapse the world economy. One way of averting this danger would be to ration fossil energy use in a way that protects both the global climate and the world's poorest people while, at the same time, giving coal, oil and gas producers a fair and stable return.