Dow Sees U.S. Ethylene Advantage Widening

Liveris: Ethylene to boost earnings. Dow Chemical CEO Andrew Liveris told investors last week that conditions will grow more favorable for U.S. ethylene makers, adding an estimated $2 billion/year in Ebitda to Dow’s results by 2017. Dow’s 2011 Ebitda was $7.8 billion. U.S. producers will benefit from sustained favorable oil-to-gas ratios, which generates a strong cost advantage for U.S. producers able to use natural gas liquids (NGLs) feedstock. Dow expects markets for ethane feedstock to “go structurally long in the second half of 2012 and...

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