Book excerpt: The impact of catalysis on the nation's economy is evidenced by the fact that catalytic technologies generate U.S. sales in excess of $400 billion per year and a net positive balance of trade of $16 billion annually. This book outlines recent accomplishments in the science and technology of catalysis and summarizes important likely challenges and opportunities on the near horizon. It also presents recommendations for investment of financial and human resources by industry, academe, national laboratories, and relevant federal agencies if the nation is to maintain continuing leadership in this fieldâ€"one that is critical to the chemical and petroleum processing industries, essential for energy-efficient means for environmental protection, and vital for the production of a broad range of pharmaceuticals.