Being Prepared for Change
Nice observation in Houston Chronicle article by Rob Gavin, 21 Sep.
I would point to my own industry, newspapers. Most knew the internet was changing how people consumed news and advertisers reached them, but they continued to feast on print advertising, taking modest steps and making modest investments to adjust to changing preferences of readers and advertisers.
As is quite plain now, the information transition happened more quickly than publishers anticipated and certainly more quickly than they reacted. We know the results: Newspapers represent one of the few industries doing worse than energy
The bottom line for energy companies is change is coming, and probably faster than they think. Their survival may well depend on how they adapt and how quickly they do it.