Financial fallout from coronavirus could devastate the fracking and plastics industries

“The likelihood of them being able to meet financial targets after this is quite small,” says one financial analyst.

by Kristina Marusic via Environmental Health News

The process of extracting oil and natural gas from the Earth by drilling deep wells and injecting liquid at high pressure is expensive; many fracking companies go into a tremendous amount of debt. Due to oversupply and consistently low prices for natural gas over the last 10 years, many have yet to pay those debts back and become profitable.

“The industry had already been seeing negative cash flows and a huge debt overhang for quite a while, and we certainly don’t see that changing after this current downturn in the market,” Tom Sanzillo, director of finance for the Institute of Energy Economics and Financial Analysis (IEEFA) told EHN.

Read the full story here: https://www.ehn.org/coronavirus-oil-and-gas-2645520057.html

Draft US law seeks to make plastic industry responsible for waste

via Yahoo The proposed “Break Free From Plastic Pollution Act,” introduced by Democratic lawmakers, would be the most ambitious regulation the US plastics industry has ever seen.

It would require producers to collect and recycle their own waste, create a nationwide drink container refund scheme and phase out certain single-use plastic items.

Read the full story here: https://au.news.yahoo.com/draft-us-law-seeks-plastic-industry-responsible-waste-011137658–spt.html

Growing Automotive Plastics Demand in Electric Vehicle Production

via Plastics News

Push for Electric Vehicles Means Plastics May Take Charge

Detroit — It should not be a shock to automotive suppliers that the plastics industry has an electric future.

By 2025, electric and hybrid electric vehicles could account for 33 percent of total vehicle production worldwide, according to data from IHS Markit Ltd., and suppliers are being tapped by OEMs to put different composites and materials into real-world vehicle applications.

Read the full story here: http://www.plasticsnews.com/article/20180206/NEWS/180209933/push-for-electric-vehicles-means-plastics-may-take-charge

automotive plastic manufacturing
By Mariordo (Mario Roberto Duran Ortiz) (Own work) [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

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