Last updateWed, 25 Nov 2020 4pm

Trends & Forecasts

Mixed Signals for Valve Industry

With all the gloom flying around it can be difficult to find anything encouraging to report, but it's there if you look for it.

For example, with much of the valve industry tied to the oil patch, it's a bit discouraging to see that the Baker Hughes U.S. rig count was 1,941 on Nov. 14, down by 51 rigs (2.5%) from the week before and down 2% from the previous month. Yet it's not all bad. We can take some comfort that it is still 8% above year-ago levels. And API numbers back that up, at least partially. The API 2008 Quarterly Well Completion Report: Third Quarter estimated that 16,379 oil wells, natural gas wells and dry holes were completed in the third quarter of 2008, a 16% increase over last year's third quarter.

The ’08 Election Has Come and Gone…Where Do We Stand?

obama_pose.jpgBarack Obama’s win over John McCain on Nov. 4 was the most lopsided victory for a presidential candidate since George H.W. Bush defeated Michael Dukakis in 1988, and the most lopsided win for a Democrat since Lyndon Johnson beat Barry Goldwater in 1964. Obama easily set a new record for total votes with over 65 million and still counting.

Zogby Talks Politics with VMA

zogby-web.jpgJohn Zogby, one of America’s most respected and accomplished pollsters, spoke to members of the Valve Manufacturers Association at its 70th Annual Meeting in Tucson, AZ. Zogby has successfully predicted past presidential elections with near pinpoint accuracy; so when he talks, people listen.

Feds Project Long-Term Energy Outlook

In its International Energy Outlook 2008 released in July, the Energy Information Administration (EIA) projects two very different futures for global energy markets. The more likely scenario predicts world oil prices of $186 per barrel in 2030, a historically high level that would dampen worldwide growth in energy demand while stimulating development of previously uneconomical energy sources.

No Sign of a Rollback in Global Steel Prices

steel.jpgDon’t look for steel prices to drop anytime soon. A “perfect storm” of economic factors will keep them high for the foreseeable future.

According to data developed by Platts, the U.S. steel price index climbed 75% between Nov. 20, 2006 and May 5, 2008. Platts’ European steel price index is up just over 80% for the same period.

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