Louisiana Light • 2 days | 73.63 | -1.24 | -1.66% | |||
Bonny Light • 21 hours | 75.43 | -0.25 | -0.33% | |||
Opec Basket • 2 days | 76.55 | +1.08 | +1.43% | |||
Mars US • 5 hours | 70.42 | -1.17 | -1.63% | |||
Gasoline • 5 hours | 2.593 | -0.020 | -0.75% |
Bonny Light • 21 hours | 75.43 | -0.25 | -0.33% | |||
Girassol • 21 hours | 78.21 | +0.01 | +0.01% | |||
Opec Basket • 2 days | 76.55 | +1.08 | +1.43% |
Peace Sour • 20 hours | 65.54 | -1.24 | -1.86% | |||
Light Sour Blend • 20 hours | 66.84 | -1.24 | -1.82% | |||
Syncrude Sweet Premium • 20 hours | 75.79 | -1.24 | -1.61% | |||
Central Alberta • 20 hours | 65.14 | -1.24 | -1.87% |
Eagle Ford • 2 days | 67.77 | -1.24 | -1.80% | |||
Oklahoma Sweet • 2 days | 67.75 | -1.25 | -1.81% | |||
Kansas Common • 4 days | 62.00 | +0.00 | +0.00% | |||
Buena Vista • 8 days | 76.40 | +1.64 | +2.19% |
Shell has announced its intention…
The delayed GCC Railway project,…
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
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
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
U.S. Gasoline Prices Are Set For A Significant Decline
Iran Seizes Third Oil Tanker As U.S. Boosts Military Presence
OPEC’s Smallest Producer Sees Crude Oil Exports Drop To Zero
Oil Markets Shocked By Across the Board Inventory Builds
Finland’s Electricity Prices Fall Below Zero
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com