Just an outstanding speech by Andrew Liveris, CEO of Dow Chemical, at the Detroit Economic Club Monday. Liveris outlined the energy challenges facing U.S. manufacturing — a recurrent theme here at the NAM — and especially the effect of higher energy costs on chemical manufacturers.
The United States is losing major business investments and high-paying manufacturing jobs because it does not have an adequate energy policy to address rising natural gas prices, said Dow Chemical Co. CEO Andrew Liveris in a speech Monday to the Detroit Economic Club.
The United States has vast amounts of natural gas along its coasts, but environmental laws prevent drilling. Liveris, head of the $46-billion Midland-based global company, said he would like to build more chemical plants in the United States, but the country’s environmental laws and lack of a coherent energy policy are discouraging.
“Faced with the choice of investing here in the United States, with the certainty of higher and more volatile natural gas prices, how can I recommend to my board and to my shareholders to invest here?” Liveris asked.
NAM’s President, John Engler, is speaking this morning in Atlanta to the Fabtech/American Welding Society national conference/convention. He’ll spend much of the speech focusing on manufacturing’s energy needs. Manufacturing consumes one-third of all electricity in the country, and as the economy grows, the demand will grow. Liveris’ comments are timely…and important. Thankfully, they seem to be drawing attention.