November 3, 2017, 3:00 AM CDT By: Jack Kaskey

Thursday, January 25, 2018

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Bloomberg News (11/3, Kaskey) reported that after enduring years of under-investment, the US chemical industry is revitalized. “Today,” Bloomberg wrote, “Dow, Exxon Mobil Corp., and Chevron Phillips Chemical Co. are putting the finishing touches on multibillion-dollar factories along the Texas Gulf Coast,” and each are “part of $185 billion in proposed and recently completed investments.” The article quoted Vertical Research Partners Chemical Industry Analyst Kevin McCarthy saying, “The US is punching above its weight at the moment “in the chemical sector. An IHS Markit report is cited saying that “a torrent of cheap US natural gas has made the country among the most profitable places to produce chemicals, beating out the Middle East in attracting projects. US exports of polyethylene plastic to Asia will rise more than fivefold by 2020.” Bloomberg added, “Almost 20 factories are being built or expanded to convert gas liquids such as ethane and propane into ethylene, the most used petrochemical and the main ingredient in polyethylene plastic,” with the largest “an $11 billion complex being built near Lake Charles, La., by South Africa’s Sasol Ltd.