Just When You Thought It Could Not Get Sillier – Green Methanol to Plastic in Europe

C-MACC Weekly Sustainability and Energy Transition Report

Just When You Thought It Could Not Get Sillier – Green Methanol to Plastic in Europe

• 1^st Topic of the Week: While we have zero confidence that it will ever get past FID, the AP Moller idea to make polyolefins from green methanol in Europe may be the craziest idea we have heard, and there have been plenty in the chemicals sector starting long before climate change was a thing.
• 2^nd Topic of the Week: Perhaps COP29 should be renamed Copper29, and the focus should be on what we can do to ensure an oversupply of power from 2030 versus what currently looks like a severe inflationary deficit.
• Otherwise: We spend more time on power as it seems to be the hot topic of the year, we look at EV leasing, and we look at more possible corn use for gasoline and SAF.

Exhibit 1: Assumes hydrogen from electrolysis and carbon from capture

Source: C-MACC Estimates and Company Announcement