01 April 2008 21:06 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--The US petrochemical industry should engage itself more, and in a more long-term way, in political debate to avoid falling victim to policy mistakes, prominent conservative leader Newt Gingrich said on Tuesday.
Speaking at the closing luncheon of the National Petrochemical & Refiners Association (NPRA) annual meeting in ?xml:namespace>
But whereas chemical companies might invest massive amounts of time and money into a new project, they take a short-term and half-hearted approach to helping set the political agenda to avoid harmful regulations that hurt the industry, he said.
Gingrich cited as an example record energy prices, which he said were not a surprise given perhaps 15 or 20 political decisions in the last 20 years that made the
The speech by Gingrich drew to a close the 33rd annual NPRA meeting, which was held against a backdrop of unprecedented upstream costs, a
Participants at the meeting reported difficulty along the petrochemical chain in passing along feedstock costs amid a softening demand picture, creating squeezes on production margins that have trimmed output in some cases and tightened supplies.
While some in the
European producers at the meeting in particular expressed frustration at the challenge of selling into the
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