US Plastic Industry Set To Grow With $30 Billion Investment In New Factories


We often think of oil and gas being used to provide fuel for power plants in order to create electricity, or to create petrol and diesel for running vehicles; but oil and gas are also vital for other products such as producing plastics. Due to the shale gas boom natural gas prices in the US are the lowest in the world, outside of the Middle East. Chevron Phillips Chemical Co., a new joint venture company created between Chevron Corp and ConocoPhillips, believes that the plastic industry could invest $30 billion into constructing factories within…

Read more...

More from Commodities

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets