Language Lunch #2…was a SUCCESS!

January 27, 2015

PartnetshipAt Translation Source’s second Language LunchSM many business cards were swapped and professional anecdotes exchanged over delicious food at Maggiano’s Little Italy. This time around, our educational event focused on an issue that’s at the forefront of everyone’s minds: the future of energy. In a bustling city like Houston, the seat of the Oil and Gas Industry, this is an issue which affects not just annual budgets and sales forecasts but also real estate prices and jobs. The informative presentation by Copperwood Asset Management’s Portfolio Manager Mauricio Marquez on “Price Drivers for the Post-Shale Revolution” sparked a lively question-and-answer session as everyone was eager to learn more.  Houston Mayor Pro-Tem Ed Gonzalez was in attendance to hear Marquez’s thoughts on this issue which is so relevant to Houstonians.

In our survey of attendees all respondents said they were “very likely” to recommend a future language lunch to a colleague. An overwhelming majority of respondents agreed that the relevance of the topic was “excellent”.  Comments from attendees were quite positive, with feedback such as: “Very timely topic, great discussion and excellent food—a fantastic event!”

For those of you who missed this Language LunchSM highlights from the presentation include:

  • Recent forecasts from Goldman Sachs, Merrill Lynch, HSBC and Morgan Stanley all show oil prices will continue to drop throughout 2015;
  • Newer, non-conventional drilling methods such as fracking allow for removal of oil and gas from shale, something which was never possible before;
  • Non-conventional drilling methods have a much lower upfront investment and a guaranteed return;
  • Huge shale plates in the U.S. and around the world can now be accessed at a much lower price than that offered by conventional drilling;
  • U.S. oil imports have contracted, leaving countries like Venezuela, Colombia, Ecuador, Nigeria and Angola to search for new markets in Asia, taking market share from OPEC;
  • With the supply of oil projected to grow faster than demand, low prices are here to stay;
  • Short-term projections show a rocky road ahead for companies with debts leveraged against past, higher oil prices;
  • Investment in low-cost production is the key to survival;
  • Huge shale plates in Texas mean we can expect to see local benefits in the long term.

 

Thanks to our presenter Mauricio Marquez and everyone who came out to our second Language LunchSM! We hope you’ll join us again next time; we’ll be sure to let you know well in advance as to date, time, and location. If you’d like to be added to the mailing list for the occasion, drop us a line at info@translation-source.com, and we’ll be sure to keep you informed.

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