A glut of polyethylene had squeezed U.S. producers for years. But the war in the Middle East disrupted the global plastics market, sending prices higher and improving margins for producers along the U.S. Gulf Coast.
The state isn’t seeing a boom from the energy supply crunch. That limits the uptick in tax revenue that comes from higher prices, and makes employment unlikely to see a big boost.
Years of investment on the Gulf Coast helped turn the U.S. into the world’s largest LNG supplier. Now that the war has upended the global industry, conflict could shape future investment and demand.
Countries that have their own refineries and reserves, and that can afford to pay, are facing high oil and gas prices but not shortages. Other countries can't get what they need and are rationing fuel.
The U.S. is the world's largest producer of both oil and natural gas, but only one of those commodities is hitting American consumers. The reason comes down to infrastructure.
New data shows natural gas prices in the U.S. up 10.9% compared to the same time last year. That increase is largely due to a colder winter and higher demands for electricity.
About a fifth of the global supply of liquified natural gas comes through the Gulf, primarily from Qatar. With that supply halted, possibly for weeks, major importers in Europe and Asia will need to look elsewhere.
