This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Lynne Lachenmyer, Senior Vice President, ExxonMobil Chemical Company, Said That Increased Natural Gas Production Is Revitalizing The U.S. Petrochemical Industry. (Photo: Business Wire)

Stocks in this article: XOM

Abundant, affordable domestic natural gas resources have provided the U.S. petrochemical industry with a substantial competitive advantage, a senior ExxonMobil Chemical Company executive said last week.

Lynne Lachenmyer, senior vice president, ExxonMobil Chemical Company, said that increased natural ga ...

Lynne Lachenmyer, senior vice president, ExxonMobil Chemical Company, said that increased natural gas production is revitalizing the U.S. petrochemical industry. (Photo: Business Wire)

In a presentation at the Shale Petrochemical Manufacturing Summit at Philadelphia’s HUB Cira Centre, Lynne Lachenmyer, senior vice president, ExxonMobil Chemical Company, said that increased natural gas production is revitalizing the U.S. petrochemical industry.

“The ability to tap into vast shale resources right here in the U.S. is an opportunity that we have to develop. We are in the middle of an industry in transformation,” she said. Relatively low natural gas prices are providing U.S.-based chemical manufacturers with an advantage over competitors in other countries that rely on more expensive feedstocks and energy for their operations.

Lachenmyer said, “Natural gas from resources such as the Marcellus shale in Pennsylvania presents a unique opportunity to revitalize the U.S. economy, and the petrochemical industry is part of that. It is an opportunity to grow our economy, create new jobs, and capture early mover advantage to increase U.S. manufacturing competitiveness.”

Shale gas and associated liquids produced throughout the country can support all the major chemical-producing regions, including the U.S. Gulf Coast, which today serves as a major hub of production of key chemical building blocks, such as ethylene.

“Looking back a couple of decades, chemicals were among our nation’s top exports,” Lachenmyer said. “But the situation changed and we were on the verge of becoming a net importer. Now the industry is back on the path of competitively serving the growth markets of Asia and other locations through exports.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs