Natural gas remains essential to the global energy transition, according to most U.S. executives, but many see a reduced or evolving role as renewables gain and the energy transition accelerates.

That’s according to Deloitte, which recently issued its 2021 industry outlook after surveying a broad array of U.S. executives. Following the presidential election, the consultancy in November queried more than 350 executives in the energy, resources and industrials industries to get their take on the opportunities and the challenges for 2021.

Views were a bit murky because 2020 was a year like no other, and 2021 remains a bit of a mystery. Covid-19 has impacted all corners of the globe as consumption was decimated. Consumption is forecast to accelerate in 2021, but executives...