Some good news about chemical prospects in the U.S. In an article in Hydrocarbon Processing Magazine http://www.hydrocarbonprocessing.com/Default.aspx
Jim Fitterling, Dow Chemical’s executive vice president for feedstocks, performance plastics and supply chain shared his viewpoint on the changing energy landscape.
Some of the high points:
- Over 120 new energy-related projects have been announced in North America, with nearly $100 billion to be invested in petrochemicals
- More than one-third of the announced projects will be located in Texas and Louisiana.
- The API predicts that nearly $5 trillion will be invested by the upstream through 2035.
- In North America, 10 new ethylene crackers have been announced
Very good news, however:
- There is concern that there is a lack of talent to build and operate the new facilities. (I have written about the skills shortage before, and it is becoming more of a concern across industries).
- The second issue is the lack of US energy policy and without a solid plan this could put domestic companies at a disadvantage
For the full article in Hydrocarbon Processing please use the following link: