Petrochemicals

IEEFA Research

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

An ‘essential industry’ to the U.S. economy runs in the dark

October 18, 2021 (IEEFA) — Despite its growing importance to the U.S. economy, the nation’s plastics industry remains a heavily concentrated sector taking advantage of an opaque, unregulated price-setting mechanism to bolster profits for major oil and gas companies, as well as plastic producers. The sector, which has increased prices throughout the year, was deemed […]

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IEEFA Europe: Proposed INEOS cracker plant would oversupply ethylene market
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IEEFA Europe: Proposed INEOS cracker plant would oversupply ethylene market

INEOS Project ONE in Antwerp conflicts with EU’s aggressive program to reduce plastics use

December 9, 2021 (IEEFA) — INEOS Group’s proposed Project ONE ethane cracker plant in Antwerp, Belgium, is a risky venture in an already well-supplied market, according to a briefing note by the Institute for Energy Economics and Financial Analysis. If approved, the project would appear to be at odds with the European Union’s aggressive long-term […]

Review likely to delay Formosa plastics plant more than two years

The Advocate: A new, more stringent review of the environmental impacts of a massive proposed plastics plant along the Mississippi River in St. James Parish will likely take more than two years. Environmental groups are cheering that scrutiny, arguing it could provide a more realistic assessment of the environmental damage the plant would do to […]

November 3, 2021 Read More →
IEEFA U.S.: Essential plastics industry enjoys “fantastic” profits with no regulation
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IEEFA U.S.: Essential plastics industry enjoys “fantastic” profits with no regulation

Plastics industry profits soar even in wake of COVID-19, weather-related issues

A recent IEEFA report on plastics pricing and the case for regulation of the industry has been released at a time of market tumult.  Plastic resin producers are boosting prices and enjoying “fantastic” profits. Since last year, polypropylene prices have increased more than 100% and high-density polyethylene, linear low-density polyethylene, and low-density polyethylene are seeing […]

Plastics emissions to surpass coal-powered plants by end of decade

The Guardian: The plastics industry in the United States is on track to release more greenhouse gas emissions (GHG) than coal-powered electricity generating plants by the end of the decade, according to a new report released on Thursday. The report, by Bennington College’s Beyond Plastics project, found that the American plastics industry is releasing at […]

October 25, 2021 Read More →
IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy
, and

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

An ‘essential industry’ to the U.S. economy runs in the dark

October 18, 2021 (IEEFA) — Despite its growing importance to the U.S. economy, the nation’s plastics industry remains a heavily concentrated sector taking advantage of an opaque, unregulated price-setting mechanism to bolster profits for major oil and gas companies, as well as plastic producers. The sector, which has increased prices throughout the year, was deemed […]

IEEFA U.S.: Plastics tax debate is health and safety issue for rest of U.S.
and

IEEFA U.S.: Plastics tax debate is health and safety issue for rest of U.S.

“Positive” contributions of plastic out of alignment with pollution, climate, public health concerns

The debate in Washington over taxing virgin plastics is worth watching. The issues are much bigger than a tax-aggrieved industry versus a government in need of cash for new investments.  It is more than the American Chemistry Council, which opposes a tax, versus Democratic leaders like U.S. Sen. Sheldon Whitehouse and Rep. Tom Suozzi, who […]

and September 30, 2021 Read More →

Guangdong bans new coal-fired power plants, plant expansions

S&P Global Platts ($): China’s Guangdong province will ban the construction or expansion of coal-fired power plants and company-owned captive power stations anywhere in the province as part of a wider crackdown on energy-intensive industries, the provincial regulator Guangdong Development and Reform Commission said in a notice dated Sept. 26. The move by one of […]

September 29, 2021 Read More →

Sinopec plans $4.6 billion in hydrogen spending by 2025

Reuters: China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen as part of becoming a carbon-neutral energy provider by 2050. Asia’s biggest oil refiner said on Monday it plans to become China’s largest company […]

August 30, 2021 Read More →

PTTGC Ohio complex remains on indefinite hold, awaiting new partner

S&P Global Platts ($): PTTGC America’s final investment decision on a new petrochemical complex in southeast Ohio remains on indefinite hold until the company secures a new partner in the project, the company said in an email Aug. 25. “PTTGCA is currently focused on securing a partner for the project,” the email said. “Once there […]

August 26, 2021 Read More →
IEEFA U.S.:  Army Corps of Engineers requires full environmental review for Formosa petrochemical project in Louisiana

IEEFA U.S.: Army Corps of Engineers requires full environmental review for Formosa petrochemical project in Louisiana

Decision made as heavily polluted Louisiana community continues to battle Formosa

A massive petrochemical complex proposed for an already heavily polluted community in Louisiana must undergo a thorough and public environmental analysis.  The Army Corps of Engineers has reversed its earlier position and issued an Aug. 18 memorandum directing officials to prepare a full environmental impact statement (EIS) to assess the potential environmental impacts of the […]

August 18, 2021 Read More →