February 2020

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Executive Viewpoint: Fuels and petrochemicals will continue to help humanity thrive

A 15-yr rise in U.S. exports of refined products continued in 2019 with the nation exporting more than ever, underscoring the importance of these products to fueling a growing world. In the latter half of the last decade, U.S. petrochemical production capacity increased—with more than $20 B invested in domestic petrochemical projects in the last 2 yr alone—and exports of petrochemicals and petrochemical feedstocks rose, as well.

Thompson, C., American Fuel & Petrochemical Manufacturers (AFPM)

A 15-yr rise in U.S. exports of refined products continued in 2019 with the nation exporting more than ever, underscoring the importance of these products to fueling a growing world. In the latter half of the last decade, U.S. petrochemical production capacity increased—with more than $20 B invested in domestic petrochemical projects in the last 2 yr alone—and exports of petrochemicals and petrochemical feedstocks rose, as well. It is difficult not to see these trends in the context of another: the number of people living in extreme poverty across the globe has dropped precipitously in recent decades, from 28% of the world population in 2000 to 16% in 2010 to an estimated 8.6% in 2018—a mil

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