Hurricane Ida knocked out power to the entire city of New Orleans. Severe winter storms in February caused a massive failure of the Texas electric grid, leaving millions without power or heat. The Colonial Pipeline ransomware attack in May created fuel shortages across 11 states and Washington, D.C.
These recent events illustrate why the energy sector is increasingly looking to modernize through the use of advanced digital technologies. Beyond such catastrophic incidents, the industry must improve resilience to other disruptive forces such as supply chain vulnerabilities, price volatility, regulatory changes and environmental concerns.