The Ice Storm is a dramatic film about two Connecticut families during the 1970s who are discovering various forms of escapism through drugs, sex, and adultery amidst the backdrop of political change and a destructive ice storm. The storm aspect of the story was based on a real ice storm named "Felix" which occurred on December 16-17, 1973.

Nancy Krikorian, literary scout and wife of producer James Schamus, first discovered the book for The Ice Storm. Schamus then brought the book to director Ang Lee who was also moved by the book. Both the book and film version are quite similar. The only minor changes are the family's last name to Carver from Williams and the sexual scenes between Paul and Libbets were lessened.

The majority of the soundtrack was made up of independently produced 1970s music. The mix was eclectic and perfectly mixed lesser known musicians with some of the greats. The track list:

1. "Shoplift" - M. Danna
2. "Finale" - M. Danna
3. "I Can't Read" - David Bowie
4. "Light Up Or Leave Me Alone" - Traffic
5. "Dirty Love" - Frank Zappa
6. "I've Got A Name" - Jim Croce
7. "Montego Bay" - Bobby Bloom
8. "O Grande Amor" - Antonio Carlos Jobim
9. "Too Late To Turn Back Now" - Cornelius Brothers & Sister Rose
10. "Help Me Make It Through the Night" - Sammi Smith
11. "Levon" - Elton John
12. "Coconut" - Harry Nilsson
13. "Mr. Big" — Free