A Crude Oil Casualty? Low crude oil prices threaten the North American gas-based chemical renaissance
The recent decline in crude oil prices is impacting global energy markets, companies, and economies. About $135 billion dollars of investments are planned by the North America gas-based chemical industries. Most of these investments have been justified based on North America natural gas prices staying significantly lower than crude oil prices. The recent collapse between the relative value of crude oil and natural gas is now challenging the viability of these planned investments.
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Reversal of fortune: Crude oil falls relative to natural gas