what goes up...

spinderella — Thu, 18 Sep 2008 19:55:48 GMT

The laborious process of squeezing oil from the sands of Canada becomes increasingly uneconomic if oil slips below $90 a barrel. Total’s extensive work in the ultra-deep waters of West Africa requires that prices stay above $70 a barrel, he said. Soaring labor and materials costs have put a strain on international oil exploration, especially as the major oil companies have had to move into increasingly inhospitable environments in search of the next barrels. Total says that the returns needed to justify heavy-oil and deep-water projects have more than doubled in the past four years.

Christophe de Margerie, chief executive of Total SA

So now that we are seeing oil futures prices fall, what does this mean for the chemical industry?

How about those that have vested interests in the alternative-hydrocarbon market? Will alternative, or "green friendly", chemicals still see a viable market if hydrocarbons are more profitable? Or are such ventures just a flash in the pan?

Chemical industry conversations

what goes up...