Caterpillar CEO Explains 2015 Financial Outlook

December 26, 2014

Caterpillar Chief Doug Oberhelman says falling oil prices will create short-term struggle for Caterpillar in 2015, but not as much as the downturn in mining in recent years.

"It won't be like we've seen in mining or some of our big cycles in the past," he said of energy prices to CNBC. "The mining business is definitely bouncing off the bottom."

But ultimately economic growth drives everything, he continued, "[and] economic growth has been slow and that's been the real cause of a lot of the lack of growth for many of us."

Read more on CNBC.