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Why The Oil Industry’s $400 Billion Bet On Plastics Could Backfire

Why The Oil Industry’s $400 Billion Bet On Plastics Could Backfire

Scott Carpenter: Energy Sept 5, 2020Key takeaways:

  • Oil companies plan to invest $400 billion into new petrochemical plants, betting that demand for plastic will keep growing.
  • Authors of a new report say the industry and other forecasters fail to consider that large majorities favor legislation to curb plastic use and waste and that governments are acting.
  • Plastics impose a cost of $1000 per tonne — through CO2 emissions, air pollution, and collection costs. Calls to shift those costs onto producers through taxes are growing.
  • Outside experts said the long-term outlook for plastics demand remains uncertain and will depend on consumer preferences and government actions.

The COVID-19 pandemic and accelerating green growth around the world have eviscerated many of the oil industry’s dogmas: that renewables would suffer from high costs, that governments would slow-walk environmental commitments, that investors would continue to reward long-term bets on oil with generous market values.

But one nugget of wisdom has survived everything the market has thrown at it, and now oil companies like ExxonMobil and Shell are wagering billions on it: that the world’s demand for plastics is still growing, with no end in sight. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

‘War on plastic’ could strand oil industry’s £300bn investment

The Guardian: ‘War on plastic’ could strand oil industry’s £300bn investment

Major oil firms plan to grow plastic supply to counter impact of shift against fossil fuels

Jillian Ambrose: Fri 4 Sep 2020 06.00 BST

The war on plastic waste could scupper the oil industry’s multi-billion dollar bet that the world will continue to need more fossil fuels to help make the petrochemicals used in plastics, according to a new report.

Major oil companies, including Saudi Aramco and Royal Dutch Shell, plan to spend about $400bn (£300bn) to help grow the supply of virgin plastics by a quarter over the next five years, to compensate for the impact of electric vehicles and clean energy technologies on demand for fossil fuels. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil’s Petrochemical Bet Is A Risky One

Big Oil’s Petrochemical Bet Is A Risky One

By Tsvetana Paraskova – Aug 19, 2020, 5:00 PM CDT

Petrochemicals are expected to underpin global oil demand growth in the future as growth in transportation fuels demand is set to slow with the increased use of electric vehicles, the International Energy Agency (IEA) said in March in its annual Oil 2020 report with projections until 2025. But are petrochemicals really profitable?

“Petrochemical feedstocks LPG/ethane and naphtha will drive around half of all oil products demand growth, helped by continued rising plastics demand and cheap natural gas liquids in North America,” the IEA said in March when the COVID-19 pandemic was already upending global oil demand growth projections for this year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell: 17 new COVID cases at cracker plant, 14 active

Shell: 17 new COVID cases at cracker plant, 14 active

By Chrissy Suttles: Posted Aug 4, 2020 at 5:28 PM

The site has seen 35 confirmed COVID-19 cases since March — 14 active and 21 recovered. More than 1,000 tests have been conducted at Shell’s on-site lab, with approximately 1 percent coming back positive.

POTTER TWP. — The number of COVID-19 cases at Beaver County’s ethane cracker plant has nearly doubled in less than three weeks.

Another 17 employees at the Shell Chemicals complex have tested positive for the novel coronavirus since mid-July, and 35 people have been infected since the pandemic hit Pennsylvania in March. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Revealed: oil giants help fund powerful police groups in top US cities

THE GUARDIAN: Big corporations accused of driving environmental and health inequalities in black and brown communities through toxic and climate-changing pollution are also funding powerful police groups in major US cities, according to a new investigation.

Some of America’s largest oil and gas companies, private utilities, and financial institutions that bankroll fossil fuels also back police foundations

Shell is one of the biggest fossil fuel companies in the world, and is currently building a huge ethane cracker plant near Pittsburgh, which advocates warn could turn Appalachia into the next so-called Cancer Alley – a corridor of Louisiana refineries, where Shell is also a major polluter. Shell is a “featured partner” of the New Orleans police foundation and a sponsor of the Houston police’s mounted patrol. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

5 At Beaver County Cracker Plant Test Positive For Coronavirus; Shell Ready To Increase Workforce Next Week

Despite a growing number of cases, Shell says it has no plans to halt construction on the multi-billion-dollar plant.

BEAVER COUNTY, Pa. (KDKA) — Five workers at the Shell cracker plant in Beaver County have recently tested positive for coronavirus.

On Thursday, Shell said 18 workers have tested positive since the beginning of the pandemic.

Earlier this month, KDKA’s Paul Martino reported that Beaver County Commissioner Daniel Camp was concerned after a ninth employee at the plant tested positive. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Can’t we just move helpless & hopeless Shell leaders out of the organization?

POSTING ON OUR SHELL BLOG 

In a recent town hall, the current project director of the Pennsylvania tax dodge, suggested the construction was 60% complete? WTF?

At least he is not to blame, he was saddled with the errors and over promises of AR, who landed a holding position as “VP HSE”, doing “TFA”, prior to a new position that seems also completely invented … and purposefulessness.

Can’t we just move helpless & hopeless leaders out of the organization?

Unless another senior leader is worried about his role in yet another profitless folly? read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell defends Pennsylvania project as outside report questions its viability

BY FRANK ESPOSITO: JAN 5, 2020

Shell Chemical says the development of a major plastics and petrochemicals complex under construction near Pittsburg remains “important”  to its overall global effort, despite a report that questioned its viability. 

In an email to Plastics News, Michael Marr, Shell business integration lead, responded by saying that Shell’s chemicals business at Monaca, PA., “enjoys strong fundamentals” and that the Pennsylvania project “is an important part of our global effort to build-out new business models that will allow Shell to participate and thrive in the energy transition.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

A Perfect Storm For Petrochemicals

One closely-watched project already under construction in western Pennsylvania faces heightened risk as well. Royal Dutch Shell is building a gargantuan ethane cracker in the heart of the Appalachian shale gas region… “The complex is likely to be less profitable than expected and face an extended period of financial distress.”

A Perfect Storm For Petrochemicals

The oil majors have made huge bets on plastics and petrochemicals in recent years, but those investments look increasingly shaky following the COVID-19 pandemic and economic downturn. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

cna: Shell plastics plant Trump touted faces oversupply risks: Energy institute report

Shell plastics plant Trump touted faces oversupply risks: Energy institute report

(Updated: )

WASHINGTON: A massive Pennsylvania plastics project that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook for the materials, a report by an institute that examines energy issues said on Thursday.

The Pennsylvania Petrochemical Complex plant in Beaver County, owned by Shell, has been promoted by some as an economic savior in a region still suffering from the demise of steel industry in the 1980s. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Tsunami of plastic threatens post-Covid-19 world

28 April 2020

The Covid-19 pandemic has forced oil consumption – and oil prices – down to a record low. Environmentalists are rejoicing, but unknown to many people, and largely unreported, oil companies have been gearing up to cover their losses by massively boosting plastic production – oil being the core component of most plastics we use in daily life.

The Covid-19 pandemic may prove to be a turning point for the oil industry. Already suffering from overproduction and decreasing oil prices, the oil markets suffered a major hit this year when the pandemic forced people worldwide into confinement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell To Temporarily Shut Down Construction At Cracker Plant

Andy Sheehan: March 18, 2020 at 3:59 pm

MONACA, Pa. (KDKA) – Union officials say Shell is temporarily shutting down construction at the Beaver County cracker plant after workers raised concerns related to the potential spread of coronavirus.

On Wednesday, Beaver County Commissioners called on Shell to shut down construction at the multi-billion-dollar cracker plant. Workers had complained of crowded buses and unsanitary conditions.

Workers at the construction site have been reporting a lack of progress on a laundry list of concerns related to the potential spread of COVID-19. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Workers At Beaver Co. Shell Cracker Plant Say Construction Site Is Unsanitary Amid Coronavirus Outbreak

By Andy Sheehan

BEAVER COUNTY (KDKA) — Over the last few days, KDKA has received questions about the Shell Cracker plant that is under construction in Beaver County.

The coronavirus has not slowed construction at the multibillion-dollar cracker plant as thousands of workers continue to speed the project towards completion.

But those same workers say the site is riddled with unsanitary conditions and standard social distancing protocols are being ignored.

In more than a dozen emails to KDKA, workers raised concerns about being transported to the site on crowded buses and called daily to mandatory mass meetings. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

E&E NEWS: Meet America’s new superpolluters: Plastic plants

Benjamin Storrow, E&E News reporter

A recent study identified 88 petrochemical projects along the Gulf Coast that are either in the planning stage or under construction. If all are completed, their combined emissions output could reach 150.8 million metric tons, the equivalent of 38 coal plants.

The same oil and gas boom that helped clean up the power sector has also made it cheaper to turn natural gas into plastics, fertilizer and other products. The process is emissions-intensive. Large quantities of natural gas liquids like ethane and propane are fed into enormous furnaces and heated to extremely high temperatures, creating smaller hydrocarbon molecules that can be separated and turned into different plastic products. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell: New steel tariffs would have “little-to-no” impact on Beaver County cracker plant

Shell: New steel tariffs would have “little-to-no” impact on Beaver County cracker plant

By Chrissy Suttles: 3 Dec 2019

Shell Chemicals representatives say President Donald Trump’s plans to restore tariffs on some steel imports would have minimal impact on final construction of Beaver County’s ethane cracker plant.

POTTER TWP. — President Donald Trump plans to restore tariffs on steel imports from Brazil and Argentina, a move Shell Chemicals representatives said would have little impact on final construction of Beaver County’s ethane cracker plant.

“Generally, all of our major steel deliveries have been made to the site, so there would be no impact or minimal impact,” said Michael Marr, Shell Chemicals’ business integration lead. “The impact would only be financial, and would not change the overall finances of the project.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell uses plastic waste to produce chemicals

Perhaps Shell will be able to recycle the microplastic toxic waste from its Pennsylvania Petrochemicals Complex when it gets underway?

HOUSTON, Nov. 21, 2019 /PRNewswire/ — Today Shell announced it has successfully made high-end chemicals using a liquid feedstock made from plastic waste. The technique, known as pyrolysis, is considered a breakthrough for hard-to-recycle plastics and advances Shell’s ambition to use one million tonnes of plastic waste a year in its global chemicals plants by 2025.

“This makes sense for the environment and our business,” said Thomas Casparie, Executive Vice President of Shell’s global chemicals business.  “We want to take waste plastics that are tough to recycle by traditional methods and turn them back into chemicals – creating a circle. These chemicals will meet our customers’ growing demands for high quality and sustainable products.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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