Dow Chemical CEO Calls for Coherent Energy Policy

Dow Chemical CEO Andrew Liveris joined Governor Rick Perry and Lieutenant Governor David Dewhurst in Freeport to announce the construction of a new ethylene plant. Liveris used the occasion to press for a coherent U.S. energy policy. Schneider has this morning's business report.

Liveris said what was needed was a policy that would encourage investment in operations that would use shale gas not only as an energy source but as a feedstock for manufacturing other products. He said Texas already understood this and that Dow was ready to work with the federal government in developing such a policy.

"If we do this right, we will create 400,000 new jobs in the chemical industry and more than $132 billion in new manufacturing output that with a small amount of taxes could go back to the American economy."

Liveris said the US risks squandering its shale gas resources without a coherent energy policy.

"If we export it, and if we export too much, some say as much as 15% of it exported, we will bring the price of oil back to this economy, thereby killing investments like this."

The new ethylene cracker at Dow's Freeport plant is expected to create 2000 construction jobs.

 

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...