12172017Sun
Last updateFri, 15 Dec 2017 3pm

i

Process Instrumentation in Oil and Gas

Process Instrumentation in Oil and Gas

Process instrumentation is an integral p...

Check Valves in LNG Cryogenic Service

Check Valves in LNG Cryogenic Service

Because natural gas is currently conside...

Will Smart Machines Obsolete Human Resources?

Will Smart Machines Obsolete Human Resources?

Is artificial intelligence (AI) going to...

Is Valve Live Loading an Option?

Is Valve Live Loading an Option?

Valves leak. There’s no getting ar...

Subscribe SUM17

FREE SUBSCRIPTION*

• Print magazine
Digital magazine
• VALVE eNews
Read the latest issue

*to qualified valve professionals in the U.S./Canada

The Weekly Report

New Products

  • ja-news-2
  • ja-news-3

Industry Headlines

Advertisement
i

Web Only

Construction and Mining: Is 2018 The Year for Growth?

Construction and Mining: Is 2018 The Year for Growth?

Tuesday, 12 December 2017  |  Kate Kunkel

While there is a degree of optimism in the mining industry that hasn’t been seen for some years, much uncertainty still exists in this sector. A...

Readmore

Loading...

Industry Headlines

United Valve Names Jim Nelson Engineering and Production Manager

2 DAYS AGO

United Valve LP has promoted Jim Nelson to production and engineering manager. Nelson will be responsible for overseeing all production and engineering activities at United Valve.

“Jim Nelson has demonstrated consummate professionalism and shown his strong leadership skills, earning the respect ...

Readmore

Setpoint I.S. Honored by Baton Rouge Business Report

3 DAYS AGO

Setpoint Integrated Solutions (Setpoint I.S.) was honored this fall at the Baton Rouge Business Report’s Top 100 Private Companies Luncheon. Celebrating its 35th Anniversary this year, the Baton Rouge Business Report hosts many events in the community.

At the most recent event , the Top 100 Private C...

Readmore

EIA Forecasts Record U.S. Oil Output in 2018

2 DAYS AGO

The U.S. Energy Information Administration (EIA) estimates that U.S. crude oil production averaged 9.7 million barrels per day (b/d) in November, up 360,000 b/d from the October level. Most of the increase was in the Gulf of Mexico, where production was 290,000 b/d higher than in October. Higher pro...

Readmore

Chemical Industry Growth Rate Surpasses 20-Year Average

4 DAYS AGO

The U.S. chemical industry is riding a global wave of growth as the world’s major economies experience an upswing for the first time in a decade. Increased output and accelerating growth rates that surpass the previous twenty-year average will help cement the business of American chemistry as ...

Readmore

U.S. Manufacturing Technology Orders Up 6.3%

4 DAYS AGO

Orders for manufacturing technology kept their momentum in October 2017, gaining 6.3% over September to a total value of $428.32 million, according to the latest U.S. Manufacturing Technology Orders Report from The Association for Manufacturing Technology (AMT). Year to date, orders are up 7.6% comp...

Readmore

NAM Survey: Manufacturers’ Optimism Reaches Record High

5 DAYS AGO

The National Association of Manufacturers (NAM) released the results of the Manufacturers’ Outlook Survey for the fourth quarter of 2017, showing manufacturers’ optimism has risen to unprecedented heights amid the legislative progress made on tax reform. With 94.6% of respondents saying ...

Readmore

2008 Market Outlook: Another Good Year

But get ready for a down cycle as we near the end of the first decade of the new millenium.

When members of the Valve Manufacturers Association gathered in Coronado Beach, CA in August for the association’s Annual Market Outlook Workshop, they listened intently to forecasts from a bakers’ dozen of economists and industry prognosticators. While much of the news was positive—most of the end-user industries served by VMA members appear to be on track for another healthy year—they also heard words of caution. In more than one instance, presenters mentioned the “R” word (recession), giving attendees plenty of food for thought as they plan beyond 2008. Two other themes echoed by speakers? The ever-dwindling workforce and the need to recognize how the North American valve industry is inextricably intertwined with the rest of the world.

 

A Recession is Coming

Alan Beaulieu, economist for the Institute for Trend Research, had some disquieting news for Outlook attendees: This nation will see a recession in the year 2010.

However, he insisted the news was not necessarily all bad.

The good news is, we have a couple more quarters of prosperity,” he said.

Beaulieu said the economy is running just about where he predicted it would go at last year’s workshop, though he’s lowered the figures somewhat for the rest of 2007 and 2008. By 2009, the economy will start to go weak and by 2010, it will take a dip, he said.

“We have no empirical indications yet, but home prices are just the tip of the iceberg,” Beaulieu said. He expects to see oil prices heating up this winter, edging up above $80/barrel in the first half of next year. He also said wage inflation in many sectors has already started.

And he said the Fed will raise rates by 50 to 75 basis points in early 2008, “which doesn’t sound like much,” but, as a nation that carries a lot of debt, the extra $400 a month per household that would result, for instance, could have a chilling effect.

Also, by 2010 there will be a new president who will be facing a number of problems, many of which are tied to the aging Boomer generation. “Whoever is president will be dealing with Social Security, Medicare, drug programs, all of which are budget busters,” he said.

The need to pay for these and other entitlement programs will mean the U.S. will need to borrow money, which puts the country at a global disadvantage, Beaulieu added.

One advantage this nation does have is its demographics, he said. Unlike some countries, “we’re having kids,” at a rate of about 2.1, which is balancing out retirees. In comparison, Russia, where male life expectancy is only 57, is shrinking and will lose 50 million by 2050, “which is the equivalent of the Bubonic Plague,” Beaulieu pointed out. And India, though it will grow almost as much as the U.S., is dealing with a land mass one-third the size.

The U.S. also has industrial advantages. For example, when comparing U.S. Industrial Production to its Gross Domestic Product, “we spend most of our time in a positive track, and we have been for a long time,” Beaulieu said. Currently, goods and services as a percent of GDP is the highest it’s been since World War II.

“We are a profitable nation and prosperous. We are first in technological readiness, quality of research, productivity, profits,” Beaulieu said.

The U.S. is also first in percentage of total world exports of goods and services with Germany, China and then Japan following next. And though many fear China’s growing strength, Beaulieu noted the country has significant demographic problems because of an aging population and restrictions on family size. It also has 125 million more men than women, which raises fears about violence, and significant pollution problems that are killing hundreds of thousands of people.

“China has been on steroids,” Beaulieu said, “but you don’t fix problems like these overnight.”

Beaulieu had these tidbits of advice:

  • Latest Post

  • Popular

  • Links

  • Events

Advertisement

Looking for a career in the Valve Industry?

ValveCareers Horiz

To learn more, watch the videos below or visit ValveCareers.com a special initiative of the Valve Manufacturers Association