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Keep in mind plastic is ~4% of oil consumption and burning it is 87%. Meaning it really doesn't matter if they get strong growth in their plastics or even the
by cagenut 7y ago
Keep in mind plastic is ~4% of oil consumption and burning it is 87%. Meaning it really doesn't matter if they get strong growth in their plastics or even the entire petrochem division, the overall companies need to be bankrupted, nationalized, broken up and unwound ASAP.
- python_gt_r3 7y agoDepriving shareholders of their capital Depriving employees of their jobs Depriving customers of their produce Just because it fits your socialist utopia
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- deleted 7y ago[deleted]
- perfunctory 7y ago"That’s a worst-case scenario, but it shows the potential disruption to the industry, where plastics already account for half of demand" "half of demand" is not 4%. Or is it another industry? What am I missing?
- cagenut 7y agohalf of "petrochemical" demand (vs 'energy') is my guess at how to read that quote, based on the two paragraphs above it.
- dsfyu404ed 7y agoIf you want to see oil companies shrink nationalizing them is probably the worst way to go about that.