Environmental struggle with plastic will reduce oil prices

About 15% of the mined resource is the production of polyethylene.

Екологічна боротьба з пластиком знизить ціни на нафту

The global struggle of environmentalists with plastic is the black Swan for the whole refinery. If with the inevitable drop in demand from the automotive industry, the oil workers have resigned, that on the negative predictions about the use of plastic packaging is still no one paid attention, informs Rus.Media.

Meanwhile, about 15% of oil produced today, the chemical industry spends on the production of plastic. And almost half of its stake it spends on packaging, tubes for cocktails, etc., i.e., practically not subject to recycling. Thus, according to preliminary estimates of experts, by 2040, half of the oil produced should go to the satisfaction of the “appetite” of the workers.

Still, analysts predicted that the plastics industry will be a key driver of growth in oil demand, compensating for the reduced demand in the automotive industry. However, their presentation did not take into account the global trend on the rejection of polyethylene in the package.

According to experts, in the next 30 years the demand from the chemical industry could be reduced by about 3% per year. And by 2040 the share of re-used plastics for finished products will increase from the current 5% to 25%.

According to the updated estimates by the international energy Agency, the real demand of chemists of oil by 2040 will be at least 20% below the previous forecasts. And the situation will aggravate active development electromobile industry and the failure of many European States from vehicles with internal combustion engines.