The advent of shale gas (and shale oil) is having more profound effects than just on the production of energy or electric power. The development of “fracking” technology is providing an impetus for developments in the petrochemical industry which can be compared to the “golden years” which followed the introduction of catalytic cracking. Petrochemical processing costs are now lower in the US than in many other countries and there has been a sharp increase in projects for the “cracking” of ethane to make ethylene as a feedstock.
As put by the Financial Times: “The international chemicals industry is undergoing its most profound upheaval for 75 years, according to Kevin Swift of the American Chemistry Council. Not since the years before the second world war, when there was a flood of discoveries including nylon, synthetic rubber, PVC plastic and polystyrene, has there been technological change with such far-reaching consequences.”
The American Chemistry Council has just published its Year End 2012 Situation and Outlook and issued this press release.
HydrocarbonProcessing writes:
Favorable oil-to-gas price ratios driven by the production of natural gas from shale will drive a renewed US competitiveness that will boost exports and fuel greater domestic investment, economic growth and job creation within the business of chemistry.
The k2p blog 