The Yanks Are Coming, Again

The Yanks Are Coming, Again

Nebraska Energy Observer by NEO

John Hinderaker over at Powerline caught something that I should have. It happens. He quotes the Science and Environmental Policy Project’s The Week That Was:

Mr Hilton discusses the highly successful UK petrochemical firm Ineos. The firm may invest €2 billion (£1.76 billion) expanding its European petrochemicals capacity, possibly in Belgium. But location is only part of the issue. As Mr. Hilton states:

Once you have built a major chemical complex, your main (in many ways, your only) worry is the cost of the raw material you need to feed into it. This can account for half or more of total production costs, and is similarly crucial for other energy ­intensive industries such as refining, iron and steel, glass, cement and paper.

Until a few years ago Europe and America paid more or less the same amount for their petrochemical feedstock — the US had a slight advantage but not so great after transport and other costs had been factored in. (Middle East plants, sited right by the oilfields, did have such a price advantage but lacked scale.)

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