Report Casts Doubts on Petrochemical Growth in Appalachia (Youngstown Business-Journal)
Plagued by shifting international markets and increasingly uncertain demand in the long term, the financial future for virgin plastics looks “poor,” according to new research from the Ohio River Valley Institute. Report co-author Kathy Hipple explains, “the oil and gas industry, particularly natural-gas producers in Appalachia that have struggled for a decade, have ample reasons to support a petrochemical build out. But that should not dictate what is best for the region and its citizens.”
A flurry of market headwinds have dissuaded prospective investors from sinking assets into new petrochemical projects, particularly in Appalachia, for fear of ending up with stranded assets. The region is better off pursuing alternative development opportunities, the report concludes.