30 Apr How the Single-Use Plastics Ban Could Impact the Fuel and Oil Industry
BP recently published its Annual Energy Outlook and plenty of it will be of interest to those in the fuel and oil business, and to those who deal with those businesses.
By 2040, renewable energy is set to be the worlds major power source, but BP reports that oil demand will remain strong for the next 20 years.
Arguably most interestingly, BP also suggests that cutting back on plastic may backfire and make matters worse. In fact, BP believes that if the world shifts to using paper, glass and other materials, this will have a bigger cost in terms of energy and carbon emissions.
Spencer Dale, Chief Economist at BP said: “If you swap a plastic bottle for a glass bottle, that takes about 80% more energy. That will be more energy, more carbon emissions.
“The bottle is a lot heavier, so it takes an awful lot more energy to transport it around.
“Yes, we should be concerned about plastics, but before we start whacking that mole, we should worry about where it pops it somewhere else.”
However, plenty argue against this theory. Louise Edge from Green Peace UK commented: “Fossil fuel giants will make countless billions in the future if the production of single-use plastics continues at current rates. So, it’s no wonder they are keen for the world to keep using more and more of it.
“While it’s true that it takes less energy to produce and transport plastic than glass, a glass bottle can be reused dozens of times and is infinitely recyclable, unlike plastic. Plus, materials like glass, when they escape collection, don’t go on polluting our oceans and rivers for hundreds of years.”