"From the Ground Up" piece predicting that nearly every sector of the constructi

Scott Tompkins

Source

Mainebiz

Date

12-10-2007

Pages

23

Abstract

"From the Ground Up" piece predicting that nearly every sector of the construction materials market will increase in 2008, due largely to sky-high petroleum costs. Petroleum-based products - from asphalt paving mixtures and plastic piping to roofing materials and paint - are expected to continue their uphill trend. Shipping costs will increase prices of virtually every other construction material. With Maine diesel fuel prices averaging over $3.50 per gallon, the cost to truck materials rises exponentially. In addition, increasing pricing pressure will continue for materials unrelated to oil, especially metals. This year alone, copper prices rose nearly 20 percent. Lastly, construction labor costs will likely continue to increase, due to a shrinking pool of workers. By all indications, Maine's commercial construction industry is entering a period bound to strain some budgets.

Subjects

Construction industry Costs, Petroleum industry

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