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The energy system is in the early stages of a transition from conventionally produced oil to a variety of substitutes, bringing economic, strategic, and environmental risks. We argue that these three challenges are inherently interconnected, and that as we act to manage one we cannot avoid affecting our prospects in dealing with the others. We further argue that without appropriate policies, tradeoffs between these risks are likely to be made so as to allow increased environmental disruption indoi:10.1088/1748-9326/1/1/014004 fatcat:attlguuknjcgdg73hc7n2lbg6u