The ongoing expansion of oil palm plantations in the humid tropics, especially in Southeast Asia, is generating considerable concern and debate. Amid industry and environmental campaigners’ claims, it can be hard to perceive reality. Is oil palm a valuable route to sustainable development or a costly road to environmental ruin? Inevitably, any answer depends on many choices. But do decision makers have the information they require to avoid pitfalls and make the best decisions? This review examines what we know and what we don’t know about oil palm developments.