Oil Price Slump Hurts the Giants

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Oil Price Slump Hurts the Giants

As a steel castings foundry, our industry has taken a hit by low oil pricing.  Many of our peers in the industry are significantly off their 2014 numbers due to the pricing slump, but it obviously isn’t just the steel foundry guys.

Exxon, Chevron, and many of the other household names are continuing to feel the pinch as operations become less cost-justified and many projects are put on hold.

More here:  http://www.bloomberg.com/news/articles/2015-07-31/exxon-chevron-bracing-for-dark-times-ahead-as-oil-slump-lingers

2016-09-23T13:10:16+00:00 September 23rd, 2016|Tags: , , |0 Comments

About the Author:

I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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