The Business Journal, Energy News Network – A group of economists and engineers from seven universities in Ohio and Pennsylvania, including John Russo, have published a letter sent to the governors of Pennsylvania, Ohio and West Virginia warning that the projected impact of the petrochemical industry won’t be as great as initially thought. Read article.
The letter follows a recent report by Institute for Energy Economics and Financial Analysis stating the Royal Dutch Shell ethane cracker plant in Monaca, Pa., “faces a combination of risks that weaken its anticipated financial performance.” Among the risks cited by the analysis group are overall economic uncertainty; the number of similar plants built worldwide, leading to a potential oversupply of ethane crackers and plastics manufacturing; and the decreasing price of plastics.
