Shale Gas: Plastic Production and Founding Firms

shale gas: But most of the founding firms have tens of billions of dollars riding on the need for global plastic production to continue growing over the next decade and more, according to The Guardian. Shell, one of the signatories, is building a multibillion-dollar plant in Pennsylvania in theeastern US, using shale gas as its fuel to produce 1.6m tonnes of polyethylene the world's most common plastic each year. Together the companies have committed 1bn 778m over the next five years to reduce plastic production and improve recycling, with an aspiration to raise that to 1.5bn if more members join. Exxon Mobil, another leading figure in the alliance, is building a new polyethylene production line at its plant in Mont Belvieu, Texas, to increase plastic production to more than 2.5m tonnes a year. Saudi Arabia's state oil company Saudi Aramco and the country's chemical giant SABIC are building one of the world's largest oil-to-petrochemicals factories as they like other fossil fuel companies move away from reliance on crude oil revenues. When completed it will be one of the largest plastic production units in the world. (news.financializer.com). As reported in the news.