 Complete the following phrase:  New threats to energy security have emerged in the form of the increased world competition for energy resources due to the increased pace of industrialization in countries such as India and China, as well as due to the increasing consequences of climate change. Although still a minority concern, the possibility of price rises resulting from the peaking of world oil production is also starting to attract the attention of at least the French government. Increased competition over energy resources may also lead to the formation of security compacts to enable an equitable distribution of oil and gas between major powers. However, this may happen at the expense of less developed economies. The Group of Five, precursors to the G8, first met in 1975 to coordinate economic and energy policies in the wake of the 1973 Arab oil embargo, a rise in inflation and a global economic slowdown. 