<
https://www.theguardian.com/environment/2020/sep/04/war-on-plastic-could-strand-oil-industrys-300bn-investment>
"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.
Industry data has predicted that plastics will be the largest driver of
oil demand growth in the coming years but new figures suggest these
investments may be left stranded as global governments push through
plans to cut single-use plastics and increase recycling to help tackle
plastic pollution."
Via Glyn Moody, who wrote "serves them right for their short-sighted and
selfish stupidity"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
