This chapter is devoted to one of the commodity groups, energy, and there are at least four reasons for affording a special prominence to this commodity group. The first is the heavy dominance of energy raw materials in the commodities universe. This is true both for trade and for the contribution they make to GDP. The second reason is that supply scarcities led to an extraordinary price increase for oil in the past 40 years, and its causes warrant an explanation. The third reason is that fundamental changes are occurring in oil and gas production technologies that promise to replace historical scarcity of supply and high prices with abundance. The fourth reason is the general perception that the energy system is going through a transition toward low carbon sources, due to technical advances in non-fossil energy alternatives as well as policy efforts to hinder climate change. The four reasons that make energy special also provide the structure of the chapter.