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2016 MANUFACTURING TRENDS REPORT MANUFACTURING TRENDS: ENERGY


The Answer Really May Be Blowing in the Wind


Market stability for fossil fuels could be at hand even as renewable energy sources take the upper hand


James D. Sawyer Editor in Chief


T


he outlook for the energy industry—particularly the fossil fuel industry—on the eve of 2017 is better than it was as the calendar page turned over to 2016. However, the threat of market volatility continues to exist because of politics, policy considerations, continuing (although declining) inventory gluts and the possibility of international turmoil and unexpected refi nery outages. As of this writing the cost of a barrel of oil is more than $20 high- er than it was at the low point of 2016. That’s good news for pro- ducers, who have started putting rigs back into service—although at a cautious pace. The end-of-day price of West Texas Intermediate crude, a benchmark, was $49.94 on October 17. That’s signifi cantly healthier than the sub-$27 closing price on Jan. 19, 2016. Yet this has not brought great pain at the pump to drivers.


According to AAA, despite the price of a barrel of the benchmark crude sitting at around $50, the national average price of gaso- line was $2.238, only $0.35 per gallon more than at the January low point.


December 2016 | AdvancedManufacturing.org TRENDS 15


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