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
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