Why Big Oil is betting on plastic

Big Oil is in trouble. Renewable energy is cheaper than ever, while the world’s lockdowns have torn a hole into gasoline demand. Oil companies hope that increasing plastic production will preserve the sector from decline. But in the age of the Paris Agreement, the computer programme is likely to backfire.

We’re destroying our environment at an alarming charge per unit. But it doesn’t need to be this way. Our new channel Planet A explores the shift towards an eco-friendly world — and challenges our ideas about what dealing with climate change means. We look at the big and the little: What we can do and how the scheme needs to change. Every Friday we’ll take a truly global look at how to get us out of this mess.

READ MORE:

Petrochemicals set to be the largest driver of world oil demand
https://www.iea.org/news/petrochemicals-set-to-be-the-largest-driver-of-world-oil-demand-latest-iea-analysis-finds

Carbon Tracker’s study on the oil industry’s computer programme to invest on plastic:

The Future’s Not in Plastics: Why plastics demand won’t rescue the oil sector

Accumulation of plastic waste during COVID-19
https://scientific discipline.sciencemag.org/content/369/6509/1314

Author & Video Editor: Christian Caurla
Supervising Editor: Kiyo Dörrer 

#PlanetA #Plastic #OilIndustry