• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 10 hours Satellite Moons to Replace Streetlamps?!
  • 1 day US top CEO's are spending their own money on the midterm elections
  • 4 hours EU to Splash Billions on Battery Factories
  • 8 hours U.S. Shale Oil Debt: Deep the Denial
  • 16 hours The Balkans Are Coming Apart at the Seams Again
  • 1 day OPEC Is Struggling To Deliver On Increased Output Pledge
  • 7 mins Owning stocks long-term low risk?
  • 3 hours The Dirt on Clean Electric Cars
  • 1 day Uber IPO Proposals Value Company at $120 Billion
  • 17 hours 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 1 day A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 1 day 10 Incredible Facts about U.S. LNG
  • 1 day U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
U.S. Oil Production May Jump To 14 Million Bpd By 2020

U.S. Oil Production May Jump To 14 Million Bpd By 2020

Secretary of the Interior Ryan…

Oil Market Loses Its Bullish Edge

Oil Market Loses Its Bullish Edge

Bullish sentiment has dominated oil…

5 of the World's Largest Firms to Collaborate on Bioplastic Development

Polyethylene Terephthalate (PET) is one of the most commonly used plastics in the world. It is usually derived from oil, and degrades very slowly, creating huge amounts of non-biodegradable waste each year.

Coca-Cola, Ford, Heinz, Nike, and Procter & Gamble have now confirmed that they will work together on a new Plant PET Technology Collaborative (PTC) in order to accelerate the development and deployment of sustainable plant-based plastics. The new plastic will be made from 100 percent plant-based material and fibre, and be used to completely replace PET made from fossil fuels.

Coca-Cola has already launched a PlantBottle in 2009 which is partially made from plant-based materials, however the new PTC group will look to accelerate the development of a PET that is made from 100 percent plant-based materials.

Coca-Cola said that the “PTC members are committed to researching and developing commercial solutions for PET plastic made entirely from plants and will aim to drive the development of common methodologies and standards for the use of plant-based plastic including life cycle analyses and universal terminology.”

Environmentalists are worried that bioplastics will have the same negative effects as biofuels, that of occupying agricultural land, and thereby reducing the amount of food that can be grown, increasing food prices.

Erin Simon, the senior program officer of packaging at WWF, said that “sustainably managing our natural resources and finding alternatives to fossil fuels are both business and environmental imperatives. It's encouraging to see these leading companies use their market influence to reduce dependence on petroleum-based plastics. We hope other companies will follow their lead.”

By. James Burgess of Oilprice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News