In light of the global and multidimensional energy crisis, the world needs an international energy regime that goes hand in hand with a post-Kyoto regime to bring about the urgently needed transition to a sustainable energy system. Such a global energy regime should foresee the possibility of technology transfer to developing countries, create a level playing field in energy trade, and address energy supply security similar to a global public good that can only be achieved and preserved collectively. Put differently, this global energy regime has to address the three objectives that equally any national energy policy has to tackle: supply security, sustainability and economic efficiency. These goals are often referred to as the “strategic triangle” in energy policy-making, because of the inherent tensions and trade-offs they involve (see Figure 3.1). It is difficult to pursue these three objectives simultaneously as they are potentially conflicting. For many consuming countries, for instance, coals are relatively cheap (economic efficiency) and abundantly available (supply security), but their use is detrimental in terms of CO2 emissions (environmental sustainability). Energy policy must be designed in such a way that it copes with the different trade-offs.