Plastics-to-oil facilities could pump $9 billion into U.S. economy -- K Trade Fair

Plastics-to-oil facilities could pump $9 billion into U.S. economy


A new report from the American Chemistry Council claims that technology that converts used, non-recycled plastics into oil could potentially generate up to $9 billion in annual U.S. economic output and create upwards of 40,000 domestic jobs.

The report, "Economic Impact of Plastics-to-Oil Facilities in the U.S.," assessed the economic potential of a rapidly developing technology called pyrolysis - more commonly known as plastics-to-oil. ACC's analysis found that the United States could support as many as 600 of these facilities nationwide, which could yield $2.1 billion in annual payroll and create up to $6.6 billion in capital investment.

"Plastics-to-oil technologies have the potential to create thousands of jobs for skilled workers, contribute billions of dollars to the U.S. economy, cut our carbon emissions, and dramatically reduce the landfilling of a valuable energy source," said Jon Angin, vice president of business development at Agilyx Corp. and chairman of ACC's Plastics-to-Oil Technologies Alliance.

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