Ethylene Dance

Dow Chemical’s planned world-scale ethylene unit brings announced U.S. expansions to more than 4.5 million m.t./year by 2017 (p. 6). A desire to take advantage of cheaper U.S. feedstocks and recent high margins is fueling the rush. The clamber to announce U.S. ethylene capacity additions brings to mind the unfortunate comments of former Citibank CEO Charles Prince, made in July 2007 as the storm that would nearly bring down global financial markets was starting to gain force. “When the music stops, in terms of...

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