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Introduction to Pressure Relief Devices - Part 1

Introduction to Pressure Relief Devices - Part 1

When the pressure inside equipment such ...

Is Your Company Ready for The New Reality?

Is Your Company Ready for The New Reality?

Since August, 2015, when VMA’s 201...

Offshore Oil Extraction and Transportation

Offshore Oil Extraction and Transportation

Offshore oil facilities come to the fore...

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Industry Headlines

GE Oil & Gas and Diamond Offshore Enter Landmark Service Agreement

12 HOURS AGO

GE Oil & Gas and Diamond Offshore Drilling, Inc. announced the offshore drilling industry’s first-of-its-kind contractual service agreement that transfers full accountability for BOP performance to GE Oil & Gas. Under this model, Diamond Offshore will compensate GE Oil & Gas only w...

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Watson Valve Announces Watson Valve Services, Australia

4 DAYS AGO

Watson Valve Services Inc. announces Watson Valve Services, Australia. Watson Valve will now have the ability to support the supply of its severe service valve products to non-U.S. domestic sites from its Australian based service agent, Process Plants International (PPi) under the name, Watson Valve...

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U.S. Oil Inventories Now at Record High

4 DAYS AGO

Several factors have played a part in pushing U.S. crude oil prices below $30 per barrel, including high inventory levels of crude oil, uncertainty about global economic growth, volatility in equity and non-energy commodity markets, and the potential for additional crude oil supply to enter the mark...

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FERC Approves $3.2B Sabal Trail Pipeline Project

4 DAYS AGO

Sabal Trail Transmission, LLC, a joint venture of Spectra Energy Partners, LP, NextEra Energy, Inc. and Duke Energy, received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission (FERC) to construct and operate the Sabal Trail interstate natural gas pipelin...

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Labor Productivity Down More Than Expected in Fourth Quarter

15 HOURS AGO

U.S. labor productivity decreased at a 3.0-percent annual rate during the fourth quarter of 2015, the U.S. Bureau of Labor Statistics reported, as output increased 0.1% and hours worked increased 3.3%.

Manufacturing sector labor productivity decreased 0.4% in the fourth quarter of 2015, as output i...

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U.S. Adds 151,000 Jobs, Unemployment Rate Down to 4.9%

3 DAYS AGO

Total nonfarm payroll employment rose by 151,000 in January, and the unemployment rate dropped 0.1% to 4.9%, the lowest since Feb. 2008. Job gains occurred in several industries, led by retail trade, food services and drinking places, health care and manufacturing. Employment declined in private edu...

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Market Outlook 2012: The Winds of Change

vmfall11_market_outlook

Attendees at this year’s VMA Market Outlook walked into the meeting room with a bit of shell shock. The stock market fluctuated wildly in the days leading up to the Aug. 11-12 event in Boston following weeks of tough U.S. federal budget negotiations and the downgrading of the U.S. credit rating for the first time in history. Sara Johnson, senior research director of IHS Global Insight, called the events “headwinds” blowing against what had been expected. She said the year 2011 had been filled with such unusual occurrences, including the Japanese earthquake/tsunami earlier that year as well as other natural disasters and political upheavals.

But attendees were soon to learn that outlook speakers, while they admitted some figures might need to be adjusted for the remainder of 2011, felt their overall prediction was on track—the valve and actuator industry will see a brighter 2012.

“I hope as you leave here today, you leave uncertainty behind and realize things are not as bad as you may have thought. There is still force in our sails … it just might be time to adjust those sails to the prevailing winds,” Alan Beaulieu, president, Institute for Trend Research, emphasized.

 

Common Themes

It’s a different world: There wasn’t much talk this year about looking to the past to respond to the future. That’s because almost every presenter pointed out that the world and this nation are in a unique economic situation. Most said to expect the rocky stock market in the U.S. to remain volatile and that while the nation is in recovery mode, it’s going to be a long steady climb back to the prosperity we experienced just before the Great Recession.

Shining stars burning brightly: India was ­mentioned by more speakers this year than at any previous workshop. The country began a climb toward prosperity in the 1990s when ­economic reforms went into effect. It did not suffer the consequences of some other nations during the recent economic woes so it is one of today’s ­shining stars. Brazil continues to prosper and was mentioned by many speakers as a good place to do business. China is still a tough ­contender for business, but it has experienced high inflation rates and other challenges that may mean some business returning to U.S. soil.

Renewables are catching hold: This is the first workshop where one session was devoted to renewable energy sources, but it wasn’t just that speaker who explained why. From international reports on global warming to new technologies that make renewables more cost effective to unfavorable attitudes toward coal, speakers gave reasons why wind, solar, biofuels, biomass, hydropower and other new sources of energy are gaining ground.

Shale drilling “rocks”: Any of the speakers who addressed energy, petroleum or related products mentioned the changes in this country that are occurring because of shale drilling both here and in Canada. Gas prices remain low; drilling has increased; more drilling is occurring on-shore; new technologies are increasing outputs; new shale sources are being discovered. All of these shale drilling developments mean less reliance by North America on foreign sources of fuel.

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