Patrick’s Monday Vista- Shale Oil and what it Means for your Business
The geopolitical effects of the advent of North American shale oil have been rapid and spectacular in late 2014 with the US reinforced as a global power and the likes of Russia, Venezuela, Iran and others cast onto the back foot on the global stage. In our own pockets we will have noticed the sharp drop in the cost of filling the tank at the pumps over the Christmas holidays. As the US economy powers ahead, European export companies are now faced with the opportunities presented by a lower Euro-Dollar exchange rate combined with historically low interest rates and falling energy costs. This structural shift in the global energy equation is going to have a very significant economic impact throughout 2015 and beyond and it is worth taking a few minutes to consider what this means for your business.
- What will be the impact of lower energy costs in production and transport on your supply chain?
- How will the increased demand for products and services from a US consumer wielding a strengthened dollar affect your volumes and the capacities and capabilities required to respond?
- How will you leverage lower interest rates at home and the increased competitiveness that your business has achieved over the tough years of recession?
For the first time in a long time, the challenges of 2015 look more like those of how to respond to opportunity rather than those of how to batten down the hatches and weather the storm. The outlook and the mind-set required to be successful in good times are significantly different from those required to survive in bad. Are you ready for 2015?