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How long is an economic cycle for the HPI?

08.01.2012  |  Romanow, Stephany,  Hydrocarbon Processing Staff, Houston, TX

Keywords: [refining] [petrochemicals] [LNG] [shale oil] [natural gas] [economics]

As summer takes hold in the Northern Hemisphere, demand for energy in various forms increases. In looking back over the past 90 years, energy demand and pricing cycle through high and low points. In 2008, many economists commented that the global slowdown reflected the same conditions as the early 1980s. However, the waves of change continue to “roll through” due to numerous interconnected events. In this month’s Insight, economic downturns appear to follow a 10-year cycle, judging from the headlines. Closure of refining and petrochemical capacity is not a new development. Headlines regarding plant shutdowns or “mothballing” occurred more often than we typically recall. Remembering and learning from the past will support better decision-making going forward.

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