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Innovation and Waste Utilization in Industry
Engaging in free enterprise has historically led to the innovation and utilization of waste products in various industries. The energy sector, for example, evolved from producing just kerosene to creating multiple products like petrochemicals, lubricants, and asphalt from the byproducts. Similarly, the CO2 challenge is seen as the next waste stream that industries are working to find valuable applications for. Transformative breakthroughs like the capture of nitrogen from the air for fertilizer production have played crucial roles in global food production. Viewing challenges as opportunities for innovation has been key to industry growth and societal advancements.