As the US has sought to exploit its hydrocarbon resources over the last decade, natural gas prices—which were once close to parity with oil prices in the early 2000s—have since diverged from oil prices. This shift evolved through the direct production of natural gas as well as gas production associated with oil development. The dynamic has transformed North America into a prolific producer of natural gas liquids (NGLs), the feedstocks used in the production of petrochemicals. Given the plentiful supplies of these feedstocks and their inherent advantage relative to oil-based feeds, massive investment in grassroots ... (full story)