Essentially, the industry is at a crossroads.
It now needs to move forward, and accelerate the move to create new circular business models. There is a once-in-a generation opportunity to build a completely new future, based on closer relationships with its downstream stakeholders, including brand owners and waste companies.
The implications of the rise in EV sales go well beyond the auto and oil markets, with petrochemicals likely to be next in line for disruption. This is why the surge in EV sales up the S-curve of adoption has to be my Chart of the Year.
A new report from the International Energy Agency confirms that electricity is set to be the fuel of the future, powered by renewable sources. And the new German government’s decision to allocate 2% of Germany’s landmass to windfarms confirms the scale of the changes underway. The IEA’s chart above details the expansions now planned on […]
OPEC+ oil producers saw prices tumble $10/bbl (13%) on Friday as the world woke up to the fact that the next phase of the pandemic may be underway. And this is not the only challenge that they face. OIL PRICES HAVE ONLY BEEN HELD UP BY MAJOR SUPPLY CUTBACKS The first is the challenge from […]
The US stock market bubble just keeps rising. And every investor “knows” that the US Federal Reserve will never let it burst. But the Fed can’t control the fallout from the bursting of China’s ‘subprime on steroids’ real estate bubble. Could this also mean the end of the Fed’s bubble? There is no doubt that […]
Looking back over the 2020s, it is easy to see how forward-looking companies emerged as Winners in the race to decarbonise, as I discuss in my new analysis for ICIS Chemical Business. “If we are going to hold the rise in the Earth’s temperature to 1.5 degrees, we must reduce emissions significantly between 2020 and […]
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually, then suddenly.” These lines from Ernest Hemingway’s classic novel “Fiesta” (USA title ‘The Sun also Rises’), summarise where we now are with Evergrande’s likely default in China. It did indeed begin “gradually” at first – starting in February 2016. As I noted here […]
The European plastics industry last week took the crucial first step in moving away from virgin plastics towards a circular economy. It supported the Commission’s proposal for a mandatory 30% recycled content in plastics packaging by 2030. And it argued that this could only be achieved by the use of chemical recycling. It is hard […]
Flooding in China and Europe, record temperatures in the USA, wild fires – all these are signs that climate change is accelerating. After all, the world has gone from 2.5bn people in 1950 to 7.9bn today. That must have an effect. In this interview with Felicia Loo and John Richardson on ICIS News, I discuss […]
Almost every day now sees a car company rushing to announce its plans to boost Electric Vehicle (EV) output. And key OPEC members – such as the UAE – are starting to recognise they have only a few years left to sell their oil, before the market disappears. Last May, the influential International Energy Agency […]