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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: 0) by Anonymous Coward on Thursday June 06 2019, @03:33AM
wtf who upvoted this trash? parentposter literally was too lazy to google, and then said economics are proscriptive - which is, literally in the literal sense of the word literally, one of the arguments that was (is, apparently) used to justify slavery. Literally.
whoever upvoted - use some brain cells and stop polluting the discourse here by floating turds like this to where others will be exposed to the stench.