Setting goals each year can sometimes evoke the Sisyphean image of rolling a massive boulder uphill. Ahead lies the challenge, once again, but this time the hill may be steeper, or the path more tortuous, and the potholes more numerous and dangerous.

But with the US industry transitioning to what some call “hydrocarbon manufacturing,” Oil and Gas Investor asked key players—CEOs and thought leaders at energy-focused think tanks—to step a little farther back and reassess the terrain ahead of them.

What are the “Big Issues” facing the industry, both positive and negative, in the coming year or two? And how would companies position themselves to best exploit upcoming opportunities and deal with expected challenges?

Not surprisingly, responses encompassed a broad spectrum of views. For some, the focus is firmly on execution and the need to maximize drilling and completion efficiencies. Another view is decidedly bearish on oil, warning of a loosening in worldwide supplies coinciding with a potential end to sanctions and strife-driven shut-ins of production. There are gas bulls and bears. The oft-overlooked need for marketing muscle, in addition to traditional E&P strengths, is another subject.

One thread—not always spoken—connecting many discussions is how the drive for ever greater efficiencies in ever expanding “manufacturing mode” operations can act as something of a two-edged sword for US producers.

To enjoy the rest of this article, please read the March issue of Oil and Gas Investor.

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