Matt Wolsfeld: I think it has more to do with the adoption of the technology than the oil price volatility. There certainly is a correlation between oil prices and what I’d say are repair and maintenance budgets, some of the companies that we’re working with. But typically, these companies that we’re working with, they’ve been trialing things for a period of time, they’ve been gathering data for a period of time. And as we’re able to show that we’re able to protect the infrastructure, that’s what we use to kind of roll out and try to expand the program inside of a company. And so I would like to think the increases that we’re going to hopefully see and likely see in oil and gas for the next — if I look out 3 to 5 years, are going to be based off of the adoption of the technology, not the volatility of the oil prices.
John Bair: And does that have application to other infrastructure outside of the tank — holding tanks?
Matt Wolsfeld: Yes. There are applications dealing with pipeline casings. There’s applications dealing with just protecting infrastructure with some of our existing industrial products. So there certainly are lots of other applications that we’re looking at other than just the tank bottom solutions.
John Bair: Yes. Reducing, say, emissions and so forth along pipelines or pipeline repair perhaps?
Matt Wolsfeld: Yes. Exactly. You’re looking to protect an infrastructure to make it safer and less likely to have leaks or anything else that would potentially be hazardous from environmental standpoint.
John Bair: Would that have application in water infrastructure as well?
Matt Wolsfeld: Possibly, but it’s not an area that we’re targeting right now. I mean, I think the potential risk and the amount that people are willing to look at from a water standpoint, I just don’t think it’s comparable to what we’ve seen from an oil and gas standpoint.
Operator: Our next question comes from Walter Ramsley with Walrus.
Walter Ramsley: Congratulations. A really good quarter. A couple of follow-ups. I guess Patrick is in Europe. Can you give us an idea if economy over there has begun to improve or is it still kind of flatlining or getting worse? I mean, what’s the story in Europe nowadays?
Patrick Lynch: According to what I’ve been hearing in the last couple of days, it’s just holding steady.
Walter Ramsley: Okay. And in the United States, can you give us an update on how the automobile part of the business is doing? And maybe just overall U.S. ZERUST Industrial in general?
Patrick Lynch: ZERUST Industrial in general is doing okay. But there isn’t — I don’t have anything big to report in terms of any significant growth we’re expecting in the near future.
Walter Ramsley: Okay. All right. And then I guess just one other thing. The last couple of days, there’s been economic reports about inflation increasing again. Has that begun to affect your company?
Patrick Lynch: Not that I’m aware of.
Operator: And I’m not showing any further questions at this time. I’d like to turn the call back over to Matt and Patrick for any closing remarks.
Matt Wolsfeld: I’d like to thank everybody for — sorry, go Patrick.
Patrick Lynch: No go ahead. You go ahead.
Matt Wolsfeld: Just want to thank everybody for participating, and enjoy the rest of the day. Thanks.
Operator: Ladies and gentlemen, this does conclude today’s presentation. You may now disconnect, and have a wonderful day.
