The price of oil has been spiking in recent weeks in response to concerns that the war in Ukraine will significantly reduce supply. But what happens in oil markets never stays in oil markets.
The price of U.S. crude oil jumped to a 13-year high of US$130 on March 6, 2022. It has come down but has been trading above $110 since March 17. That’s over 60% higher than it was in mid-December before fears of a Russian invasion began to mount.
Plastic waste of all shapes and sizes permeates the world’s oceans. It shows up on beaches, in fish, and even in Arctic sea ice. And a new report from the National Academies of Sciences, Engineering, and Medicine makes clear that the U.S. is a big part of the problem.
As the report shows, the U.S. produces a large share of the global supply of plastic resin – the precursor material to all plastic industrial and consumer products. It also imports and exports billions of dollars’ worth of plastic products every year.
