11152018Thu
Last updateThu, 15 Nov 2018 4pm

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Chemical Activity Cools at Start of 4th Quarter

The Chemical Activity Barometer (CAB) from the American Chemistry Council posted a 0.2% gain in October on a three-month moving average (3MMA) basis. The barometer is up 3.8% (3MMA) year-over-year. The pace of growth has slowed form earlier in the year. The unadjusted measure of the CAB declined 0.2% in October. The unadjusted CAB declined 0.2% in October and reflected a 3.0% increase year-over-year. 


Natural Gas, Wind, Solar are Cheapest for Generating Electricity

According to the University of Texas at Austin's Energy Institute, natural gas, wind and solar energy are the lowest-cost technologies for new electricity generation for most of the U.S., Manufacturing.net reports.

“Wind again proved to be the option with the lowest cost, on a levelized basis, for a broad swath of the country, from the High Plains, the Midwest and Texas, and even portions of the Northeast. Solar power is the cheapest technology in much of the Southwest, and, based on updated data, also in the eastern and northern regions of the U.S. Natural gas prevailed for much of the rest of the country.” 

$1.2 Billion Oil Export Facility Planned in Texas

The Port of Corpus Christi (TX) Authority has entered into an agreement with The Carlyle Group to develop a crude oil export terminal on Harbor Island, connecting growing crude oil production in the U.S. with global markets. The terminal would be the first onshore location in the U.S. capable of providing export service to fully-laden very large crude carriers (VLCCs).

As part of the agreement, Carlyle agreed to lead the construction and ongoing operations of the terminal on an exclusive basis. Carlyle also agreed that it would arrange for a private funding solution for a dredging project to bring fully-laden VLCCs to Harbor Island (at least a 75-foot main channel depth). 

Confidence High in Oil & Gas Industry, M&A Activity May Follow

According to a survey from KPMG, oil & gas (O&G) industry confidence is up and CEOs are setting their sights on growth opportunities, with 85% very confident or confident on industry growth, and 88% very confident or confident on company growth prospects.

As part of their growth strategies, 83% of O&G CEOs anticipate a moderate to high appetite for M&A activity over the next three years, largely driven by the need to reduce costs through synergies/economies of scale; a speedy transformation of business models; increased market share; and low interest rates. 

Bipartisan Water Infrastructure Bill Signed into Law

President Trump signed America’s Water Infrastructure Act of 2018 into law this week, the most sweeping infrastructure legislation to be considered this Congress. The law will accomplish a number of tasks including authorizing federal funding for water infrastructure projects, which leverages billions in water infrastructure spending. It will also assist local communities in complying with the Safe Drinking Water Act and Clean Water Act by upgrading aging drinking water, wastewater and irrigation systems. 

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