This blog provides some personal views on the future.
First, I believe the future is very bright for the USA. With good demographics, a high value add work force, low cost energy, great resources, lots of land (with much of it arable), plenty of resources and financial strength, the United States has a lot going for it. Although the Federal Government seems to be in chaos, with political decisions made that fail to anticipate unintended consequences, this disarray has happened many times in our history. With the result being our political system has worked it out and we have always ended in a better space.
So my outlook for the ten year horizon is very optimistic supported by the following:
- The wave of onshoring (bringing mid-tier manufacturing including petrochemicals back to the USA) is creating great opportunities;
- Demand for energy and hydrocarbons – in all of the scientific studies I have seen – is going to increase;
- Ongoing efforts to decarbonize are creating many opportunities and Becht is very engaged in working to help projects in this space to succeed;
- With higher interest rates and the baby boomer generation moving into retirement, capital is likely to be tight. However, the Federal Government is injecting a trillion dollars into our country supporting onshoring manufacturing and decarbonization projects.
While undoubtedly there will be bumps in the road. But if history of the USA is any indicator, the future looks bright.