Marcellus Shale Threatens to Bankrupt European Petchem Industry

In reading a fascinating story about European chemical plant giant Ineos, the article took an unexpected turn when it said Ineos, indeed all of Europe’s petrochemical industry, is “vulnerable as never before because of the shale oil and gas boom in the US, which has made energy costs there just a fraction of those in Europe.” The article specifically names and credits the Marcellus with producing feedstock that is far cheaper than can be found in Europe–and chemical plants are now choosing to relocate and manufacture their products in the U.S. rather than Europe. The inescapable conclusion: if the United Kingdom (and Europe) refuses to frack, they’re hosed. Ineos, which has figured this out, has “quietly” purchased “some interesting onshore fracking licences” in the UK, and they intend to use them…

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