It is a truism that future prices of energy for transportation will be determined by the forces of supply and demand. For transport fuels, these forces have entered a crucial phase that is likely to persist for several decades. Oil production from conventional resources outside of the OPEC countries will peak within a few years. Unconventional fossil resources that can be exploited at current prices, resources whose early development is already well underway, pose an even greater threat to the global climate than conventional fuels. To bring these resources to the market at a rate to match the growth in demand for mobility fuels in the developed and developing economies will require massive, risky investments. Serious risks are posed by the environmental acceptability of these fuels as well as by the fact that a sudden downturn in world oil prices would turn them into stranded assets.