Crude oil prices and the environment
Travel bans created a 33% decline in demand for oil, while the ill-timed price war between Saudi Arabia and Russia led to excess supply of discounted oil. With the world’s oil storage capacity almost full, oil prices are at its lowest point since the 1990s.
This low oil prices could mean that manufacturing new plastic products would be cheaper than recycling them.
Will the recycling industry take a back seat because of higher manufacturing costs?
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