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
months 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.