Remember 3 years when this boom was just ramping up and oil was $40 a barrel and how optimistic everyone was? It is the same price now.
Granted things have changed as construction and engineering costs went up but these costs will be mitigated as layoffs occur and people are forced to get new jobs at more reasonable wages. As shop space frees up cost will come down and the Price of steal will come down dramatically as demand lessons.
I believe that we are seeing the large pause now to let prices come down and in the next 6 months or so the major capital projects will start flowing again. One of the big issues facing the smaller companies is financing so if capital markets open up again things will get back on track.
The worst part of this whole recession is peoples attitudes. The economy is based on what people believe will happen so excess optimism leads to bubbles and excess pestimism leads to reccession. So everyone should help out the economy and have a positive outlook for the new year
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