Big Oil, a term coined to represent the Western world's most significant oil corporations, plays a pivotal role in not just the global energy markets, but also in the production of plastics. Predominantly, such plastics are composed of petroleum-based compounds, signifying a profound correlation between the oil industry and the surge in the world's plastic production. This blog aims to delve into the complexities of this relationship, assessing its environmental implications and what it might mean for our collective future.
1. Big Oil plays a crucial role not only in global energy markets but also in the production of plastics.
2. The majority of such plastics are derived from petroleum-based compounds, highlighting a significant connection between the oil industry and the increase in global plastic production.
3. Big Oil companies, being large players in the energy sector, significantly contribute to the world's total carbon footprint.
4. They not only participate in extraction to refinement and distribution processes but also strongly influence the global economy, including pricing and supply chain dynamics.
5. The encompassing influence of these companies extends to fueling vehicles, heating homes and producing plastic items, further escalating their environmental impact.
Approximately 8% of the world's oil production is used to make plastic.
...fossil fuels. Collectively, these giants of the energy world are responsible for a significant percentage of the world's total carbon footprint. Their operations span from extraction to refinement and distribution. Additionally, they maintain a firm grip on the global economy, influencing pricing and supply chain dynamics across continents. Not only does their reach extend to fueling our cars and heating homes, but they also play a pivotal role in producing our plastic items, further intensifying their environmental impact.