countries, however, raising energy prices has political and social implications; in these cases the increases could perhaps be done through a series of systenatic adjustments over an appropriate period of tirne. 40l It should also be noted that the capacity of domestic energy enterprises to generate substantial cash flows would also affect their ability to obtain new loans and equity capital, both domestically as well as from abroad. The role of fiscal policy in the developnent of energy resources is another important consideration, particularly in the financing of research and developnent aimed at harnessing new local energy sources. 40. Credit policy could be deptoyed not so much for increasing as for channelling capital. This approach would be particularly important for Governments of energy-deficient developing countries where smaller-scale, shorter-gestation energlt projects would be comrnon. Institutions could be established within the overall sectoral credit framework of the country in order to finance small enerqy projects. Examples of such institutions are the Comisi6n de Fomento ltinero in !4exico and the Companhia de Pesguisa de Reeursos Flinerais in Brazil, which were established to provide credit and technical assistance to small-scale mining. 4L. In developing countries that would like to provide an opportunity for foreign enterprises to participate in their energy resource development, the creation of an environment conducive to foreign investnent is essential. One condition is the availability of geologic data on fossil fuels which, as mentioned above, would have to be compiled in the first place for energy planni.ng at the nationaL level. Another conflition is a legal framework conducive to foreign participation. ft has already been mentioned that governnent poticy on acreage leasing has at tines impeded foreign exploration when foreign enterprises have not been provided sufficient access.to more promising ateas. 4U Similarly, the government share of
**Analysis**
The text appears to be discussing the economic and policy implications of energy development, particularly in developing countries. It touches on issues related to energy pricing, financing, and foreign investment, which suggests a strong connection to economic development and natural resources.

**Category**
Economic development, Natural resources and environment