能源行业分析

ACCELERATINGINNOVATIONINENERGYEnergyisKey...NowOctober22,2002Thisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinsey&Company.ThismaterialwasusedbyMcKinsey&Companyduringanoralpresentation;itisnotacompleterecordofthediscussion.ThistemplateisnotdesignedforNotesviewprintouts.Onlyusethistemplateforonscreenpresentationstolargegroupsof50+.TohavetheoptionofusingtheNotesPageforprintoutsandSlideviewforonscreenpresentations,usethe“U_Template2000.”TODAY’SDISCUSSIONCapitalmarkets:ruthlessdriverofinnovationCreativedestructionintheEnergyIndustryWhatcanHoustondotoleadinnovationinEnergy?LONG-TERMSURVIVALISDIFFICULT,ANDGETTINGMORESONote:NumberofexitsaveragedovertwentyyearperiodSource:McKinseyanalysis193519551975