The energy sector regularly makes the front pages, not just for its cutting-edge technology and multibillion-dollar investments but also for its price spikes and occasional high-profile accidents. The coverage generally illustrates the strain on the increasingly overstretched global energy system. But beyond the headlines, broader structural changes are reshaping the energy world, among them major shifts in the geographical sources of demand, increasing supply shortfalls, an evolving geopolitical context, and intense scrutiny of the energy industry’s environmental impact.
As a result, today’s energy landscape exhibits growing complexity, increasing fragility and volatility, and a broad trend toward higher prices. These trends pose profound challenges for energy producers and consumers, and businesses must consider how they can adapt and succeed.