In this issue of Energy Market Analyst we review the main developments of the energy complex in 2007, where a series of contingencies in oil, coal and gas supply combined with growing Asian demand to push energy prices up to record levels. Our special topic looks at the evolution of road transport emissions against the back-drop of the EC’s desire to see a 20% reduction in 1990 CO2 emissions by 2020. We find that the increase in emissions from growing motorisation in the EU would be difficult to offset through relying on gradual improvement in vehicle emissions limits and the current proposals for sustainable bio-fuels.