Want to know where your chemical pricing will be in the near future? Watch the news!
Major Global Events have always had an impact on chemical pricing (whether up or down). The major difference today is that it happens much, much more quickly. The ebb and flow of information is instantaneous and light years ahead of where it was just 10 years ago. The impact of instant communications is far reaching and undeniable, just ask former Egyptian President Hosni Mubarak. The protests in Egypt that ended with his resignation began as an event on Facebook and the creator of this page and hero of the protests was Wael Ghonim a “Google Executive.” This is strange to say the least but it is a good example of the power of communications. The first action by the Egyptian government was to shut down telephone and internet in an attempt to halt communication. They failed and the results, as far as our industry was a temporary spike in oil pricing, the delay of the EMethanex Plant Commissioning and a lot of displaced foreign workers and diplomats. It could have been much worse. CONTINUE READING “A MARKET UPDATE FOR FEBRUARY 2011”