| Submit your comments on this article |
| Home Front Economy |
| Kuwait buys 50% of Dow Chemicals basic plastic division |
| 2007-12-14 |
| The venture includes all Dow's plants that make polyethylene, polypropylene and polycarbonate plastics. 22% of Dow's last year's sales came from that unit. Dow Chemical shares rose $2.64, or 6.3 percent, to $44.39 Thursday. It was the biggest percentage increase since October 2002. All the billions spent importing oil have to come home to roost sometime. |
| Posted by:Anguper Hupomosing9418 |
| #3 Middle eastern oil income has quadrupled since Sept 2001. All that money has to go into something and there are only so many solid silver Mercede an oil sheik can buy. So they buy productive assets instead of losing value with a depreciating dollar. Some companies with large ME shareholders: AMD, Church's Chicken, Citibank, Carlyle Group (the real Halliburton bogeyman), FOX News and whole lot more. Don't like it? Then produce our own energy and make our own manufactured goods. |
| Posted by: ed 2007-12-14 18:39 |
| #2 From looking at the article, it looks like a good deal. The firm will be based in the US and it isn't like any of DOW's US plants are going to be moving. People need to understand that as US petroleum production tails off, petrochemical production is going to move to where the oil is. In fact, it would be a great move for Iraq. If you want to have Anbar, or example, take part in the oil economy without having much oil, you build petrochemical plants there and allow them to take advantage of "value-adds" to oil. |
| Posted by: crosspatch 2007-12-14 12:59 |
| #1 Why is this in non-wot? |
| Posted by: g(r)omgoru 2007-12-14 09:42 |