Among the books on the world energy crisis, on technological possibilities for self-sufficiency, and on various energy sources, this is one of a very few to address the practicalities of government regulatory responsibilities versus the pursuit of profit in the private sector and to look at the processes, logistics, and complex interactions among private energy companies, financial sectors, and national governments. The authors provide answers to such questions as: How do oil company operations influence government policies? What kinds of energy projects can be financed by existing financial institutions? How does the availability of insurance affect innovations in energy? They also examine how major investors and governments make decisions about the management of the volatile mix of political, economic, and technological risks that buffet the energy sector; critique the conventional wisdom concerning the major fuels; and project the likely evolution of the world energy market over the next decade.

Innovation in information and production technologies is creating benefits and disruption, profoundly altering how firms and markets perform. Digital DNA provides an in depth examination of the opportunities and challenges in the fast-changing global economy and lays out strategies that countries and the international community should embrace to promote robust growth while addressing the risks of this digital upheaval. Wisely guiding the transformation in innovation is a major challenge for global prosperity that affects everyone Peter Cowhey and Jonathan Aronson demonstrate how the digital revolution is transforming the business models of high tech industries but also of traditional agricultural, manufacturing, and service sector firms. The rapidity of change combines with the uncertainty of winners and losers to create political and economic tensions over how to adapt public policies to new technological and market surprises. The logic of the policy trade-offs confronting society, and the political economy of practical decision-making is explored through three developments: The rise of Cloud Computing and trans-border data flows; international collaboration to reduce cybersecurity risks; and the consequences of different national standards of digital privacy protection. The most appropriate global strategies will recognize that a significant diversity in individual national policies is inevitable. However, because digital technologies operate across national boundaries there is also a need for a common international baseline of policy fundamentals to facilitate "quasi-convergence" of these national policies. Cowhey and Aronson's examination of these dynamic developments lead to a measured proposal for authoritative "soft rules" that requires governments to create policies that achieve certain objectives, but leaves the specific design to national discretion. These rules should embrace mechanisms to work with expert multi-stakeholder organizations to facilitate the implementation of formal agreements, enhance their political legitimacy and technical expertise, and build flexible learning into the governance regime. The result will be greater convergence of national policies and the space for the new innovation system to flourish.