Petroleum equipment suppliers can look forward to being busy. That’s the word from Robert Renkes, executive vice president of the Petroleum Equipment Institute (PEI), who said that, among other things, fuel stations need new equipment to deal with the advent of E15 and diesel exhaust fluid (DEF).
Renkes presented a positive overview of 2011-2012, and expressed optimism about the future of the petroleum equipment industry, in an Oct. 9 speech to more than 300 PEI members at the group’s annual membership meeting. The event was held in conjunction with the 2012 PEI Convention at the NACS Show in Las Vegas, Nev.
“PEI members should be busy helping customers build and rehab stations, add E15, DEF and diesel to the fuel island, deal with the problems in ultra low sulfur diesel systems and prepare to offer fuels for the future, such as CNG and LNG,” Renkes said, referring to compressed and liquid natural gas.
While Renkes gave a positive evaluation of current business conditions and economic indicators in the petroleum equipment industry, he pointed out several challenges beyond the control of distributors, including the national economy and international political tension.
“Were it not for a precarious national and world economy,” Renkes said, “and Mideast tensions near the ‘boiling point,’ the outlook would be even rosier.
“There look to be more opportunities than potential pitfalls for the petroleum equipment industry in the foreseeable future,” Renkes said, “even after factoring in business lost due to the elimination of Stage II Vapor Recovery in 30,000 stations within the next few years.”
Headquartered in Tulsa, Oklahoma, PEI is a trade organization comprising more than 1,600 companies engaged in the manufacturing and distribution of equipment used in the petroleum and energy handling industry. Members are located in 50 states and 81 countries.