Recycling industry impacted by falling oil prices

CBS News Philadelphia

While the majority of Americans are celebrating as the price of gas continues to fall, some industries are getting hit hard. Whats good news for millions of drivers is bad news for recycling centers.

Environmental consultant, Wayne DeFeo, makes an appearance on a recent CBS News video segment, Industries Hit hard by Falling Gas Prices, and discusses this topic.

Wayne DeFeo says "All recycling is impacted by low energy costs, plastic in particular because plastic is made from oil". With the low price of oil, plastic manufacturers are finding it cheaper to create plastic from oil instead of recyclables. This price drop is costing recycling centers around the nation billions of dollars. However, when the oil prices do eventually go back up, so will the value of recycleables.

Continue reading on this topic:

Skid in Oil Prices Pulls the Recycling Industry Down With It

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