Industry Today Highlights Sectors of the Energy Market Including Oil & Gas Production, Transmission & Storage

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An Industry Alert by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). The production, transmission and storage of oil and gas products play a key role in the development and strength of many industries domestically and abroad. Despite scandals in the industry, the high cost of crude oil and natural gas all three segments of this industry were forecast a marginal increase in capital and maintenance spending this year over 2002 and quite likely again in 2004.

Industrialinfo.com reports spending in the oil and gas market as three distinct industries including Production, Transmission and Terminals (storage). According to Industrialinfo.com's annual Industrial Outlook capital and maintenance spending for these three industries was forecast to total nearly $22.3 billion in 2003. "Those dollars are spent on everything from grassroot natural gas and product pipelines spread across North America to grassroot compressor stations and storage terminals," commented Ed Weatherly, Oil & Gas Group Manager with Industrialinfo.com.

"The next couple of years we expect to see an increase in the import of oil and liquefied natural gas (LNG) that will drive new construction for storage terminals on seaboards across North America," added Mr. Weatherly. The increase in spending for the transmission industry will be focused on new lateral pipelines and compressor station additions to support the downstream movements.

Each week Industrialinfo.com hosts Industry Today, a live half hour radio and Internet broadcast to meet with industry experts and discuss industrial spending trends. Join Crazy Al and Ed Weatherly Monday May 12th at 7:30 a.m. (CST) on Industry Today to discuss these and many more upcoming capital and maintenance spending trends.