ACC: U.S. chemical industry reaps shale gas benefits

05/31/2011 | Automation World

The shale gas boom in the U.S. benefits the natural gas and chemical sectors, said Kevin Swift, chief economist of the American Chemistry Council. "The [current] surge in oil prices has helped competitiveness in the U.S. because overseas competitors use crude for naptha, whereas here in the U.S. feedstock is natural gas," Swift said. Hydraulic fracturing in shale formations remains a concern for the public, but the gas boom "would not be commercially viable without [hydraulic fracturing] technology," according to ACC.

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