Industry Outlook Report The Energy Industry at the Start of the New Millennium
Issue 3, 1999
Utilities & alternative energy

Each year, my colleagues and I take time to reflect deeply about the future of energy markets and the industry. This year's conversations were particularly challenging given the turbulent environment, which we metaphorically compare to "riding the rapids."1 These rapids, or trends, include abrupt U–turns in oil prices, a squeeze on margins throughout the industry supply chain, mind–boggling megamergers, and growing evidence that traditional vertically integrated structures are misaligned with the direction of change. Then there is an ongoing technology revolution to reckon with, and a climate–change debate that threatens the very future of the fossil fuels industry.