Book excerpt: The result of a massive study by the author of the effects of energy and energy shocks on the world economy, the volume is organized around the theme that energy is an integral feature of the economy and that any interpretation of short-term movements in economic activity is likely to be seriously at fault if it neglects energy supply changes and their repercussions. The author takes both an historical and theoretical approach to the subject, providing students and scholars of energy economics and political economy with a logical framework within which key worldwide energy issues and problems can be analyzed.