We begin another year of coverage of the North American Industrial Gas business with a look at broad trends, the direction of the US economy, and how these are likely to impact our portion of the economic pie in 2016.
The big three headwinds of 2016 — energy (cheap), information technology (everywhere), and the workforce (scarce) — are again blowing our way. The currents of 2015 — manufacturing, the boom in the oil patch, and clean energy (not fossil-fuel based) have been somewhat derailed by persistent low oil prices, which, as we go to press, have again fallen below $40.00 a barrel. Projected low energy prices will continue to be both good (lower production and distribution costs) and bad (decline in oil and gas services) for industrial gas markets. The fiercely competitive drive toward the Internet of Things (IoT) will continue to disrupt the supply chain. And the challenge of keeping the workforce trained to operate the new technologies and automation enabled by IoT will remain a major concern.
The Overview
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