Recycling expert discusses the impact of falling oil prices on the recycling marketplace

CBS News New York

Petroleum Oil in Test TubeWayne DeFeo recently joined Diane Macedo, Anchor/Reporter for CBS New York, on a television video segement discussing the effect of low oil prices on recycling centers.

The segment touches on several topics beginning with plastic. Since plastic is made from petroleum, low oil prices means lower plastic prices. This means that in order to stay competitive, the recycled plastic commodity needs to drop.

The video continues and mentions that since steel and paper prices are down, it results in making lower value materials, such as plastic bags, even harder to recycle.

Wayne DeFeo appears during the discussion on unwanted materials. Unwanted materials, such as christmas trees and bowling balls, can contaminate surrounding material. Wayne comments "In a smaller contract, they're usually penalty provisions that say if you bring the material that's really dirty I'm charging you more." Combined with the low commodity prices, the Association for New Jersey Recyclers says it is a big problem.

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Low Oil Prices, Improper Disposals At Recycling Centers Could Hit Taxpayers Hard