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As we note there is new oil supply coming online in Iraq, Argentina, off shore in Brazil, and down the road they will have to open up Alaska, and the top of the world too. It's hard to say who is going to get the rights to the North Pole oil reserves, it might be a joint effort, but it means enough oil for the USA, as well as a growing China and India and all the other users on the planet .
More petroleum refineries also means more chemicals will be accumulated in the process, many of these chemical are used to make plastics. Perhaps, you've read we already have too much of those chemicals, and it is causing trade issues. For instance, what do you know about the reasons and WTO "international trade dumping" complaint from China about Saudi Arabia about the chemicals used to make plastics? It seems that there is more to this story.
Since China is building so many new refineries, and much of the chemicals used to make plastics is left over from the refining process, and some of those chemicals are actually waste because they have so much of it, anyway it seems things are getting interesting. There is another issue, we already have too much plastic disposal, and there are those who are trying to recycle it all.
In fact, I do recall reading some research papers from the University of Illinois that was working on recycling automotive plastics and foam, and I realize that the EU is way ahead of the United States when it comes to the recycling of plastics, in part due to the pre-funding for every car purchased in the End of Life Program for automobiles.
There are also huge amounts of recycled plastics from the refuse industry, and from shipping / packaging, so much plastic, and more on the way, maybe we need to re-think all this, or start making our houses, schools, bridges, and cars out of the stuff too? Do not laugh, we've come a long way in polymer science in the last decade.
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