Daily Chemical Reactions

Weak Consumer Sentiment & Unexpected, Negative Clean Energy Sector Shocks – Not Positive For The Energy Transition
November 10, 2023
Commodities Mentioned:
Plastics (PVC, PP, PE, PU, PC, PET, etc.), Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha
Companies Mentioned:
Braskem, ADNOC, Plug Power, Bloom Energy, Lummus, Citroniq, Purecycle, Gunvor, Sinopec, Nova Chemicals, Amcor, IMCD, Ube, Kureha, Aekung Petrochemical, Posco, Osaka Soda, DCW, PI Industries, SK Chemicals, Citgo, Orico, Petro Rabigh, Petrobras, KBR, New Era Helium, Chart Industries, Reliance Industries, BP, Equinor, DuPont, Trecora, Kansai Paint, Arakawa Chemical, Ami Organics, Songwon, Flux Power, Eni, Siemens Energy

Daily Chemical Reaction

Weak Consumer Sentiment & Unexpected, Negative Clean Energy Sector Shocks – Not Positive For The Energy Transition

Key Points:

  • US consumer sentiment fell for the fourth consecutive month in November, and adverse clean energy participant notices have risen – both favor lower energy transition investor risk tolerance.
  • We argue that the unexpected magnitude of the issues at Plug Power has negative contagion effects on peers and new clean technologies seeking price, cost, and investor/funding support.
  • We discuss a few slides from the Braskem 3Q23 report, the renewed interest in Braskem from ADNOC in media reports, and we display Braskem’s results and ambitions in green polyethylene.
  • NW Europe and Asia natural gas prices have increased relative to US levels since mid-2023, and we display the chemical chains with the most significant links to natural gas and electricity prices.
  • We highlight the YTD increase in interest rates that is weighing on US consumers, discuss a few critical indicators coming from China, and display a relative rank of economic policies by country.

See PDF below for all charts, tables and diagrams


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