The methods we devour vitality and produce commodities are changing. This transformation could benefit the global economic system, however useful resource producers will have to adapt to stay aggressive.
Policy makers could seize the productivity benefits of this useful resource revolution by embracing technological change and permitting a nation’s vitality mix to shift freely, at the same time as they handle the disruptive results of the transition on employment and demand. Resource exporters whose finances rely on resource endowments will need to discover different sources of income. Importers could stock up strategic reserves of commodities while prices are low, to safeguard towards supply or price disruptions, and put money into infrastructure and education. Create a profile to get full access to our articles and reports, together with those by McKinsey Quarterly and the McKinsey Global Institute, and to subscribe to our newsletters and e mail alerts.
For resource companies, notably …