Petrochems Will Boom

The petrochemicals market is set for an average CAGR of 9% through 2023. Apparently, greener alternatives are not doing too well.

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The focus on clean energy investment has been on reducing emissions from the electricity generation and the automotive industries that it almost seems like petrochemicals has been ignored. Big oil are looking to petrochemicals to keep the industry booming, it will be interesting to see how much regulatory and divestment pressure comes to this industry when it hits the mainstream press.

https://oilprice.com/Energy/Energy-General/Big-Oil-To-Bet-On-Petrochemicals-As-Demand-Peak-Looms.html

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Oh, that will be fun to watch: divesting from oil derivatives used to make, say, heart valves. Or contacts. Or bicycle tyres. Yes, please start divesting from petrochems.

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8 hours ago, Marina Schwarz said:

Oh, that will be fun to watch: divesting from oil derivatives used to make, say, heart valves. Or contacts. Or bicycle tyres. Yes, please start divesting from petrochems.

Bicycle tires. Interesting--I hadn't thought of that. One more reason why the EV revolution would be a no-go without oil. Not only to charge the EVs (for now, anyway) but the tires! 

I wonder what other things would be impossible without oil right now (as in, no viable alternatives currently exist)?

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Plastic packaging, cosmetics, there's even oil derivatives in medicines. Asphalt = roads. Here's a list of more. It's a bit scary.

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