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Technology ArticlesThe ways we consume vitality and produce commodities are changing. This transformation could benefit the global economy, but useful resource producers should adapt to stay aggressive.

Policy makers could seize the productiveness benefits of this useful resource revolution by embracing technological change and permitting a nation’s vitality combine to shift freely, at the same time as they tackle the disruptive results of the transition on employment and demand. Resource exporters whose funds rely on useful resource endowments will need to discover different sources of revenue. Importers might replenish strategic reserves of commodities while costs are low, to safeguard against provide or value disruptions, and put money into infrastructure and schooling. Create a profile to get full entry to our articles and experiences, including those by McKinsey Quarterly and the McKinsey Global Institute, and to subscribe to our newsletters and e-mail alerts.

A new McKinsey Global Institute report, Beyond the supercycle: …

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Technology ArticlesThe ways we eat energy and produce commodities are altering. This transformation may gain advantage the worldwide economic system, but useful resource producers should adapt to stay competitive.

For resource corporations, significantly incumbents, navigating a future with extra uncertainty and fewer sources of progress will require a deal with agility. Harnessing know-how will likely be essential for unlocking productivity good points but not ample. Companies that focus on the fundamentals—growing throughput and driving down capital costs, spending, and labor prices—and that look for alternatives in know-how-pushed areas may have a bonus. In the brand new commodity landscape, incumbents and attackers will race to develop viable business models, and not everyone will win.

On the demand side, consumption of vitality is changing into less intense and extra efficient as folks use much less vitality to dwell their lives and as vitality-environment friendly applied sciences turn out to be more built-in in …