(Natural News) Fracking companies are the real-life equivalent of super-villain Lootin’ Plunder from the old Captain Planet cartoons. An EcoWatch article described the fracking industry’s profitable business model, where they earn billions of dollars of profits by encouraging petrochemical companies to overproduce plastic products made from shale fuel.
Fuels extracted through hydraulic fracking processes are sold to customers like petrochemical companies that convert fossil fuel into various products. The current shale gas boom caused a big drop in the price of natural gas liquids, one of the key ingredients in the production of plastic resins.
Always on the lookout for profits, petrochemical companies began investing $186 billion in more than 300 new plastic production projects, reported The Guardian. Around half of these projects have been completed and are taking advantage of cheap shale gas to produce a tidal wave of plastic products.
U.K.-based Ineos is one such investor. Its chemical manufacturing operations span 22 different countries and its 75 facilities generate mounds of plastic products, tons of air pollution, and industrial accidents aplenty.