Observational cosmology is currently experiencing a revolution. Recent meas
urements of mangitudes vs redshift of very distant type Ia supernovae indic
ate that the expansion velocity of the universe is increasing. This acceler
ation requires the existence of an energy form that overcomes the gravitati
onal self-attraction of matter, such as the vacuum energy density associate
d with the cosmological constant (Lambda).
This papers describes how cosmological parameters can be extracted from the
Supernova Cosmology Project data and what can be expected from future meas
urements of Type Ia supernovae.