Fossil Fuel Industry Sees Plastic As Saving Grace, But Demand May Plummet

Plastics and other petrochemical goods are set to overtake the transport sector as the largest driver of global oil demand. Oil and chemical companies have invested a whopping $180 billion in new and projected plastics facilities, largely due to the fracking boom. But calls by governments and a variety of stakeholders to reduce single use plastics raise questions about whether projected demand for plastic products may slump, resulting in stranded petrochemical assets.  Furthermore, extreme weather is creating new risks from flooding that exacerbate plastics pollution risks from petrochemical plants.

Read More