Big Oil Plans to Unleash a Wave of Plastic From the Gulf Coast

The U.S. Gulf Coast is about to unleash a tidal wave of plastic raw materials by the mid-2020s as the world’s biggest oil and chemical companies tap cheap shale gas to meet growing demand from makers of everything from toys to plumbing to consumer goods.

Exxon Mobil Corp., Dow Inc., France’s Total SA, South Africa’s Sasol Ltd., and Saudi Basic Industries Corp. have built or announced at least $40 billion in new petrochemical facilities in Texas and Louisiana, according to data compiled by Bloomberg. The most recent is an $8 billion joint venture between Chevron Corp., Phillips 66, and Qatar ...