I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chemical EngineeringChementator Briefs
Biomethane Last month, NextChem, a subsidiary of Maire Tecnimont S.p.A.…
BUSINESS NEWSTECHNICAL & PRACTICALTOWER DOCTORFEATURE REPORTFACTS AT YOUR FINGERTIPSENGINEERING PRACTICEENVIRONMENTAL MANAGEREQUIPMENT & SERVICESFOCUSSHOW PREVIEWSDEPARTMENTSCHEM CHRONICLES

Comment

Editor’s Page: Credit Crunch may have Surprising Results

By John Pearson, Divisional President |

A lot has happened in world finance markets since Rebekkah Marshall’s relatively optimistic assessment of the economic outlook in Chemical Engineering’s December 2007 issue. A welter of bad news about poorly made housing loans that were subsequently repackaged and sold as high-value securities has turned into a full-blown, but slow-motion, global financial crisis. While, to date, this has been largely a U.S. phenomenon, its international ramifications are only just beginning to show themselves, and almost all of the big names in international financing have been taking write downs. What does all of this financial gloom mean for chemical engineers? While it is too early to foresee all the ramifications of the financial crisis, we are ready to make a few brave predictions, based on current trends and assuming that U.S. consumption does not come to a screeching halt: We are likely to see a slowdown in the implementation of large ($1 billion plus) projects, where construction has not started. Financing for these projects is likely to be harder to get, even if the business plan is completely watertight — none of the big banks want to hold mega-loans on their balance sheets and the securitization market has disappeared Projects…
Related Content
Feeling video fatigue?
It has been a full year since our world was changed by the coronavirus pandemic. The disruptions to our lives…
2019 Kirkpatrick Award Finalists
Every two years, Chemical Engineering honors an innovative technology that has been commercialized with the Kirkpatrick Chemical Engineering Achievement Award.…
Preparing for unprecedented storms
This year, hurricane season in the U.S. has been active again, with Hurricane Florence battering North Carolina and its surroundings…
Starting strong
Last month, the American Chemistry Council (ACC; www.americanchemistry.com) issued its annual year-end report, which offers a positive outlook for the…

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
GMP In The Cosmetic Industry
Solve turbomachinery problems: Miba Tilting Pad Bearings
Six Steps to Designing a Storage Vessel That Really Works
SICK Solutions for Cleaner Industries - Powerful Transitions
Gain a Digital Line of Sight Across the Whole Lifecycle of the Plant with a Digital Twin

View More