Summary: The book looks closely at the following points: Dual pricing: One major policy issue in today's petroleum sector is "dual pricing" practices for natural resources, whereby governments keep domestic prices lower (or export prices higher) than if they had been determined by market focus. Such practices enable oil producers to use their natural resources to promote industrialization. While dual pricing as such is not inconsistent with WTO rules, it is increasingly likely to come under scrutiny if oil prices continue their upward trend; On oil taxation: Oil-producing countries have repeatedly expressed their concern at the high level of consumption and excise taxes imposed on petroleum products in the consuming countries. They are worried that high taxes undermine their ability to derive income from their own natural resources; On extending liberalization to energy services: The on-going negotiations on services provide a framework for the negotiation of liberalization commitments in all services sectors, including energy services; On environmental concerns: "Green trade" is one of the highest-profile issues in contemporary trade policy, and particularly in energy and allied sectors. The biggest challenge to petroleum-exporting countries in the area of environmental measures today probably comes from the United Nations Framework Convention on Climate Change and the Kyoto Protocol; On regional agreements: An insight into the possible future agenda for negotiations relating to energy issues and petroleum in particular can be gleaned from an examination of how these issues have been treated at the regional level; On US energy policy: The United States is the most likely proponent of initiatives to include new rules in the trade system affecting energy policies and international trade. [English only]
