While our customers in the energy sector are not exactly singing “Happy Days Are Here Again,” they are much more hopeful than they were a few years ago when the activity went flat, driven by low oil prices.
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Annual construction spending in the U.S. grew for six consecutive years, from 2012 to 2017, according to data from the Department of Commerce. In each of those six years, spending on power construction projects topped all other segments in nonresidential construction, making it a major driver of industry trends.
For untold millennia, the power of the sun has provided sustenance to mankind. On a late summer day, as the sun beat down on suburban Chicago, executives at JTEKT Toyoda Americas Corp. celebrated the launch of a new solar energy system that will help power the facility and sustain the environment for the future.
According to the Eaton Blackout Tracker, 36.7 million people were affected by more than 3,500 power outages in the U.S. in 2017 alone. These outages lasted twice as long as the year before, keeping the lights off for an average of nearly eight hours per disruption.
Demand for oil and natural gas pipe is forecast to grow 11 percent annually to $15.4 billion in 2022, a strong recovery from severe declines seen during the 2012-2017 period. Growth will be driven by an expected increase in drilling activity as oil prices continue to recover from 2016 lows.
Caterpillar Inc. (Peoria, IL), the maker of heavy equipment, reported its second-quarter earnings surged while automaker General Motors Co. (Detroit) reported its profit sagged.
Despite falling oil prices, the investment valve in the oil and gas industry remains on—for now—as manufacturers continue their race to provide large, precision parts for fracking, subsea drilling and other related activities. But as anybody in the energy sector knows: this is the land of boom or bust.
Recent declines in oil prices have dramatically impacted industries of many types, and oil drilling equipment manufacturers must be particularly attentive to recent market conditions.
Rod Zimmerman of cutting tool manufacturer Iscar Metals lives in a pleasant green zone in a Fort Worth suburb. Yet within a half mile of his home, an oil company has sunk a vertical hole 7,500′ (2,286 m) deep, from which it has splayed nine lateral lines, each going about half a mile.
APS Plastics & Manufacturing(Tomball, TX) has been machining custom composite components since 2006.