Looks like those “crazy environmentalists” were right all along: the cost of oil has gotten so high that companies are looking for alternatives. When it comes to companies that rely on petroleum-based products they’ve noticed that their profits are dwindling because the cost of oil has gone up, so the bioplastics industry is now on the rise.
Hopefully this increase in the insane consumption of oil will spur on more companies looking for alternative options. These options exist and are being produced already, we just need the forethought to use them now.
“A lot of brand owners, particularly those that heavily on packaging, are interested in protecting their long-term costs,” said Douglas A. Smock, a plastics analyst who wrote a report for market research firm BCC Research that predicted a boom in plant-based bioplastics. “They want more predictable cost structures going forward. The high price of oil is responsible for . . . → Read More: Things Are Good: Oil is Too Expensive for Wasteful Use