
What If the 1970s Came Back?
What if the pellets stopped flowing? Market conditions in the 1970s discouraged investment in monomer and resin production—until the industry was caught by surprise by surging demand and an oil embargo. Could we be headed that way again? (Photo: ExxonMobil) In my blog of March 16, I referred to the Arab Oil Embargo of 1973-’74, which was accompanied by a quadrupling of crude-oil prices and widespread shortages of most major…