18 March 2010 12:28 [Source: ICIS news]
LONDON (ICIS news)--US chemical producers can capitalise on their own advantaged feedstock position and make the most of domestic markets to ensure future prosperity, a leading consultant said on Thursday.
The forthcoming surge of Middle East capacities means that the ?xml:namespace>
He said: “The new
Declining demand for gasoline could also benefit US producers, said Hodges: “US gasoline demand from refineries probably peaked in 2007 and we’re now seeing more ethanol coming into the system plus new fuel economy measures that will boost fuel economy by 42%: so we’ll see much less gasoline being used in the US.
“Hopefully this could be an opportunity: we can take distressed price light-end [feedstocks] which were being used in the gasoline market and use them to help boost the position of the petrochemical industry and its consumers in the US Gulf coast.”
Hodges urged the
He added: “US producers have this fantastic ability to turn a problem into an opportunity: that ‘can do’ attitude is very important. There are two sides to this debate. Obviously the Middle East has advantaged feedstocks, potentially the
Read Paul Hodges’ article ‘Be a winner, not a victim’ in the 22 March NPRA issue of ICIS Chemical Business
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