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As the world strives to wean itself off fossil fuels, oil companies have been turning to plastic as the key to their future. Now even that's looking overly optimistic.
The global crackdown on plastic trash threatens to take a big chunk out of demand growth just as oil companies like Saudi Aramco sink billions into plastic and chemicals assets. Royal Dutch Shell Plc, BP Plc, Total SA and Exxon Mobil Corp. are all ramping up investments in the sector.
Renewed emphasis on recycling and the spread of local bans on some kinds of plastic products could cut petrochemical demand growth to one-third of its historical pace, to about 1.5% a year, said Paul Bjacek, a principal director at consulting firm Accenture Plc.
Maybe they can convince consumers to accept clamshell packaging for everything.
(Score: 2) by PartTimeZombie on Thursday June 06 2019, @01:44AM (7 children)
Yeah,
as if growth can continue for ever.
Anyway, if the Saudi royal family wind up broke the world will be a better place. Not that they will, when they run out of oil they will just go and live in their Mayfair mansions.
(Score: 1) by khallow on Thursday June 06 2019, @10:36AM (6 children)
Unless, of course, that comes at the expense of the well being of many other people. Policies that harm one person need not help another.
(Score: 1) by fustakrakich on Thursday June 06 2019, @03:05PM (2 children)
You only have to check the usual cost/benefit ratio. All you need is a pocket calculator.
La politica e i criminali sono la stessa cosa..
(Score: 1) by khallow on Friday June 07 2019, @09:51PM (1 child)
I recall the cost/benefit ratio supposedly wasn't exciting for other examples of regime change.
(Score: 1) by fustakrakich on Saturday June 08 2019, @12:35AM
Wouldn't know about "exciting". It is merely the primary method of deciding whether to invade or not. It's like the riot index, you balance the "benefits" of austerity to the costs of the resulting property damage. Everything is done by the numbers. Perfectly natural and normal.
La politica e i criminali sono la stessa cosa..
(Score: 2) by PartTimeZombie on Thursday June 06 2019, @09:12PM (2 children)
Policies that remove power from the House of Saud are likely to be a net benefit for everyone involved.
I don't see why anyone should have to live under an absolute monarch in 2019.
(Score: 1) by khallow on Friday June 07 2019, @01:53PM (1 child)
I see policies that removed (or could remove) bad people from power heavily criticized before - such as supporting the Arab Spring, invasion of Iraq which removed Saddam Hussein from power, the current sanctions against Iran, and current support for Venezuela opposition. I don't buy that there's likely to be a net benefit in that light.
(Score: 2) by PartTimeZombie on Saturday June 08 2019, @07:54AM
You're right, when the US meddles they always screw things up.