Higher energy prices have taken their toll of hopes for top-line growth. 'Cost-cutting' as a driver of earnings is back on the radar screen.

To support their economic growth countries like China and India are aggressively moving to secure new energy streams. The US needs to have a comprehensive energy strategy, which is part of our overall national-security strategy.

Despite oft-mentioned concerns about higher energy and commodity prices, a lower growth rate for consumer spending, a slowing of the housing and auto sectors, and higher interest rates, the manufacturing sector appears to be on solid footing and poised for yet another year of expansion.

Today's acquisition reinforces our North American strategy to maintain our growth momentum in Texas energy by building on our current presence in this important market. We look forward to bringing to these new Texas-based customers the benefits of our experience and bench strength as a leading energy and related services provider in North America's most progressive competitive energy markets.

If the headwinds from energy costs fade, the sky for growth should start to clear a little bit,

Contacts must be closer between the Ministry of Industry and Energy and oil companies to fix [fuel] price growth at 11%, as projected.