Episode 1200: Think Tank: US petrochemical outlook with James Ray

ICIS consultant, James Ray, describes how the shale gas revolution has benefited the US economy and chemicals plus views on demand and the green transition.

-          US shale gas revolution has helped entire economy

-          Low energy costs key driver of economic growth

-          Post-pandemic soaring demand, crimped supply pushed margins very high

-          US chemicals margins have now normalised, companies profitable

-          US construction market hurt by inflation, high interest rates

-          US auto industry improving but inventory still high

-          Companies, consumers less willing to pay green premium in tough times

-          Economics, incentives drive US business decisions

-          US incentives much more effective than Europe sanctions