PODCAST: US ACC's outgoing chief economist reflects on 30 years in chemicals, Storm Ida impact

Author: Will Beacham

2021/09/08

BARCELONA (ICIS)--The outgoing chief economist at US trade group the American Chemistry Council (ACC), Kevin Swift, analyses the impact of Storm Ida and reflects on the key changes which have shaped the chemical industry over the last 30 years.

- Storm Ida will delay US inventory rebuild into 2022
- After Storm Uri consensus was for inventory rebuild by Q3/4 2021
- Around 15% of US ethylene capacity could be offline for two-three weeks longer
- Ida adds to existing difficulties in global supply chains
- Gulf Coast outages impact Europe’s ability to import from the US
- Shortages may continue to inflate prices
- Constant supply chain disruption could spell end of globalisation
- Only 30% of shipping is arriving on time
- Shale gas revolutionised US chemicals
- Focus on quarterly results at expense of long-term vision
- Climate emergency, low carbon production will drive industry

In this special Think Tank podcast, Will Beacham interviews ACC's Swift;  ICIS Insight Editor, Nigel Davis; and the chairman of New Normal Consulting, Paul Hodges.

Kevin Swift (left), with Nigel Davis (bottom right) and Paul Hodges (top right)

Click here to listen to the podcast

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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