Big Oil Looks to Plastic

oil-wellsPlastic production uses about 6% of global oil consumption (equal to the global aviation sector). If the plastic market continues to grow as expected, this could rise to be 20% of oil consumption by 2050. The scary thing is that oil companies are banking on the
continued rapid growth of plastics in the age of renewable energy.

Regardless of Trump’s decision in regards to the Paris Agreement the truth is that fossil fuels are being left behind, and renewable energy is the future. The world knows it, the oil industry knows it, the people know it; it just seems like the US government doesn’t
know it.

As the shift to renewable energy continues worldwide, the oil industry is looking to put more and more of its resources into plastic, which is problematic. Up to 32% of plastic production leaks into the environment, causing all types of ecological, biological, and economic problems. A surge of  global and local action is facing the problem head on but with millions of dollars at stake for oil companies, the fight is going to get heated.


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