08262016Fri
Last updateThu, 25 Aug 2016 4pm

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Valve Basics Training Helps Fill Industry Skills Gap

Valve Basics Training Helps Fill Industry Skills Gap

One of the most keenly felt needs in tod...

An End-User’s Perspective on Valve Selection and Risk

An End-User’s Perspective on Valve Selection and Risk

I am not a valve expert, although I ofte...

New Test Stamp and More Updates on Pressure Vessel Codes

New Test Stamp and More Updates on Pressure Vessel Codes

A new test organization program and stam...

The Role of Valves in HAZOP Studies

The Role of Valves in HAZOP Studies

Process hazard analysis (PHA) is require...

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Industry Headlines

ValvTechnologies Successfully Completes NUPIC Audit

1 DAY AGO

ValvTechnologies, Inc. recently achieved NUPIC-approved suppliers list status, upon successful completion of the Nuclear Procurement Issues Committee (NUPIC) audit conducted at the Houston facility. NUPIC members include all domestic U.S. nuclear utilities as well as several international members.

Form...

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GE Oil & Gas Supporting ONGC’s Exploratory Drilling Campaign in India

1 DAY AGO

GE Oil & Gas has been awarded a multi-million-dollar frame agreement by Oil and Natural Gas Corporation Limited (ONGC), India’s largest exploration and production company. Under the agreement , GE will provide an estimated 55 subsea wellheads (SG5) over next three years for the operator&rsqu...

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Chemical Activity Barometer Suggests Accelerated Business Activity

2 DAYS AGO

The Chemical Activity Barometer (CAB) expanded 0.4% in August following an upward revision for July. This marks the barometer’s sixth consecutive monthly gain. Accounting for adjustments, the CAB is up 3.2% over this time last year, the strongest year over year growth since January 2015. All d...

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Innovation Could Lead to Significant Cuts in Chemical Manufacturing Energy Use

2 DAYS AGO

Scientists from ExxonMobil and Georgia Tech have developed a new technology that could significantly reduce the amount of energy and emissions associated with manufacturing plastics. If brought to industrial scale, this breakthrough could reduce industry’s global annual carbon dioxide emissions ...

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Manufacturing Productivity in U.S. Higher Than Other Nations

16 HOURS AGO

“U.S. productivity unexpectedly declined for a third straight quarter in the three months through June, Labor Department figures showed. On a year-over-year basis, it fell for the first time since 2013,” Bloomberg reports .

But on a more positive note, “the U.S. still blows other natio...

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Durable Goods Orders Up 4.4%, a Six-Month High

18 HOURS AGO

New orders for manufactured durable goods in July increased $9.7 billion or 4.4% to $228.9 billion, the U.S. Commerce Department announced. This increase, up following two consecutive monthly decreases, followed a 4.2% June decrease. Excluding transportation, new orders increased 1.5%. Excluding def...

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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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