On October 8 the American Chemistry Council released a report that wide-scale deployment of emerging technology that converts used, non-recycled plastics into oil could generate up to $9 billion in annual U.S. economic output and create upwards of 40,000 domestic jobs. The report, Economic Impact of Plastics-to-Oil Facilities in the United States, assessed the rapidly developing pyrolysis technology and found that the U.S. could support as many as 600 of these facilities nationwide which could yield $2.1 billion in annual payroll and create up to $6.6 billion in capital investment.

Earlier this year in a separate study at Columbia University, engineers found that converting non-recycled plastics into oil could generate 6 billion gallons of gasoline, enough to fuel nearly 9 million cars per year.

To view the report, go to: http://plastics.americanchemistry.com/Stand-Alone-Content/Economic-Impact-of-Plastics-to-Oil-Facilities.pdf.