Climate Change Legislation Could Mean Big Costs for Petchem Industry

Greenhouse gas (GHG) reduction targets set out by a climate change bill introduced by Senators Joseph Lieberman (I., CT) and John Warner (R., VA) will require a significant increase in the use of alternative energy sources, and result in substantial costs for the refining and petrochemical industry, according to a study financed by the National Petrochemical and Refiners Association (NPRA; Washington). The study estimates the cost to the petchem industry to be more than $2 billion over the period 2012-30. The study, which was conducted by NERA Economic Consulting...

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