Oil companies are going all-in on petrochemicals – and green chemistry needs help to compete

By Constance B. Bailey, Assistant Professor of Chemistry, University of Tennessee

Global oil consumption declined by roughly 9% in 2020 as the pandemic reduced business and pleasure travel, factory production and transportation of goods. This abrupt drop accelerated an ongoing shift from fossil fuels to renewable energy.

U.S. government forecasts show that oil use for transportation, industry, construction, heating and electricity is declining and will continue to drop in the coming years. This trend has enormous implications…

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