Oil Prices: A Turkey Becomes Airborne, Danger Ahead

By John Richardson

OIL prices rose yesterday, despite the latest Energy Administration Information (EIA) report for the week ending 28 August revealing that:…

Total US commercial stocks grew by 5.7 million barrels a day – and at 1.29 billion barrels

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Myth No 5: China Has Enough Money To Bail Itself Out

By John Richardson

MYTH No 1 about China is that the rise of its middle classes guarantees a prosperous economic future. No need for a Plan B we are told. Just follow the money by investing in lots of autos …

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It’s Insane But Why Not? Oil Back at $100 By Christmas

By John Richardson

ALBERT Einstein is widely credited with saying this: “The definition of insanity is doing the same thing over and over again, but expecting different results”.  Who cares if it is either paraphrased or he didn’t even say …

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China Consolidation? Forget It in Purified Terephthalic Acid

By John Richardson

TOO many people still assume that the above kind of chart always leads to capacity closures in any industry that is as oversupplied as purified terephthalic acid (PTA) is in China right now. In 2015, we estimate …

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China Myth No 3: China’s Politicians Are Always Right

By John Richardson

A THIRD myth about China is that its political leaders are superb technocrats who put their counterparts in the West to shame. This follows on from the two other myths I discussed last week.

Linked to this …

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Moving Beyond A World Of Myths: Steps One And Two

By John Richardson

We are living in a world of myths that are at long last being exposed as such, although I worry that this could be too late for some chemicals companies.

One myth I discussed yesterday is the …

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Why The China “Higher Base” Argument Doesn’t Stand Up

By John Richardson

WHAT an amazing success story. The above chart shows that:…

China’s high-density polyethylene demand rose by 151% between 2000 and 2014 to end up at around 10 million tonnes.
Low-density PE consumption surged by 72% to approximately

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China: There Are No Shortcuts To Recovery

By John Richardson

STOCK markets can do what they want over the next few days and weeks. They will surely bounce around like crazy on every tiny detail of economic news from China. For example, yesterday there was a 3% …

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Beyond Panic Here Are Five Pointers For The Future

By John Richardson

WITH US oil prices now below $40 a barrel and so heading in the direction that I’ve warned about since the “fake recovery” in February-June, people will be panicking, quite understandably. The global collapse in stock markets …

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US Petchems: Last Piece Of Expansion Logic Fades On Falling Crude

By John Richardson

THE demand was simply never going to be there to support anywhere close to the number of US cracker and derivatives projects listed in the table above. There long been two reasons for this:…

The US is

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