PPG Finalizes Coatings Acquisition and Reappoints CEO for Auto Glass Business
PPG Industries finalized its $3.2 billion (Euro 2.2 billion) acquisition of SigmaKalon. The deal is expected to boost the company's annual sales by $3 billion, and increase its coatings sales to nearly 75 percent of its total business operations.

Meanwhile, following its failure to sell its auto glass business to Platinum Equity - who recently brought a lawsuit against PPG in conjunction with that sale - PPG appointed ex-employee Frank Archinaco as CEO of the division. Archinaco was executive vice president for the glass and chemicals division when he retired in 2002.

Specialty Chemicals Becoming Focus for Dow Chemical
Dow Chemical's $19 billion (Euro 12.2 billion) olefins and polymers project with Petrochemical Industries Co. (PIC), a wholly owned subsidiary of state-owned Kuwait Petroleum Corp., is its last action under the company's "asset light" strategy. Advantageous feedstock positions and vertical integration with Dow's performance businesses is critical, because these businesses will be central to the company's performance from now on, according to company head Andrew Liveris. Human health, energy, infrastructure and transportation, and electronics and communications will be the four key business platforms. Selective acquisitions of specialty companies are expected. Liveris predicts that Dow will achieve annual sales of $50 to $60 billion in five years, with specialties accounting for 70 to 80 percent.

Chemicals Attract Investors in Singapore
According to the Singapore government, the chemical sector in the country will attract significant investment, as will the semiconductor, biomedical and aerospace industries. Projects announced n 2007 include ExxonMobil Chemical's mega cracker and Neste Oil's renewable diesel plant

Chemical Industry Faces Challenges in Russia
Russian chemical firms hope that foreign investors can help the industry address the critical issues it faces. According to some Russian industry players, there is a severe need for introduction of new capacity and modern infrastructure. Existing facilities are physically worn out, inefficient and technologically inferior, and they must be replaced if the Russian industry is to take advantage of growth opportunities. Injection of capital from foreign investors will be required if these necessary changes are to take place. New Russian complexes will have access to cheap feedstocks and significant natural resources, and they should be attractive to investors.

M&A at Peak in 2007
The value of chemical industry M&A deals in the first three quarters of 2007 totaled $38 billion (Euro 26 billion), and the value for deals in the full year is predicted by Young & Partners to be higher than the $42 billion reached in 2006. In the first three quarters of 2007, eight deals worth more than $1 billion were completed, and 63 transactions valued at more than $25 million were closed.

There has been a significant slowdown in activity, however, since the beginning of the financial crisis in the third quarter, and this trend is expected to continue in 2008. Smaller deals will still be made though, particularly in the European chemicals market, which was the location of the largest percentage of deals in 2007. Companies such as Cambrex, Calumet Specialty Products, Airgas, Arkema, Lanxess and Johnson Matthey have received coverage related to recent M&A activity. The most notable change will be the lack of deals initiated by private equity, which has largely exited the market.

Political Uncertainty Plagues Thai Petchem Industry
Players in the petrochemical market in Thailand fear that the newly installed People Power Party (PPP) will not stay in control for more than a year. With further upheaval expected so soon, they recommend that foreign investors stay away from projects in the country. The economy has suffered during recent troubling times, and it is not expected to improve in 2008. Few have faith that the new government will be able to have any impact, despite the many promises it has made to rejuvenate the economy.

U.S. Chemical Industry Responds to Lead Paint Ruling
The American Chemistry Council (ACC), the National Association of Manufacturers (NAM) and the National Paint and Coatings Association (NPCA) have joined forces to fight a lower court ruling in a recent lead paint case in Rhode Island. The ruling finds paint manufacturers liable for the removal or remediation of lead-based paints in homes, office buildings, schools and other structures throughout the state, a decision that could add up to $4 billion (Euro 2.7 billion) in liability costs and set a precedent with the potential to open all product manufacturers to similar liability exposure. The industry argues that the product, which was produced prior to the passing of a ban on its use, is not defective and was sold legally. Property owners or landlords who fail to maintain the coatings should be held liable, not the manufacturers, the industry maintains. The case is expected to be heard by the Rhode Island Supreme Court in May 2008.

U.S. Producers Recovering Rising Costs
A favorable exchange rate for exported goods and an ability to pass through price hikes to their customers have made it possible for U.S. chemical manufacturers to recover much of the increases in raw material costs that occurred in the fourth quarter of 2007. Shell Chemicals reported an increase of 11 percent in operating income that was achieved through improved margins and lower fixed costs. For Eastman Chemical, income was up 44 percent in the fourth quarter of 2007 due to higher selling prices, a decline in some energy and raw material costs and an improved product mix. For 2008, companies are concerned about global economic uncertainty and the continued rise in raw material and energy costs.

FDA Acknowledges Need for International Offices
The U.S. FDA announced that it will send inspectors to foreign countries on a permanent basis, particularly in countries where exports of active pharmaceutical ingredients and formulated products to the United States are high. The announcement mentioned China and India, as well as the regions of Central and South America and the Middle East. The agency's presence abroad will be "ongoing and continuous" rather than "episodic and periodic," according to FDA commissioner Andrew C. von Eschenbach. The FDA must arrange funding for the inspectors and work with the State Department to determine how its inspectors will relate to other parts of the U.S. government. Host nations must request the presence of these inspectors before they can be sent abroad, which is another hurdle to be addressed.

This announcement comes after the FDA faced criticism about its limited number of inspections of foreign manufacturers despite the fact that as much as 80 percent of active pharmaceutical ingredients used to formulate generic and over-the-counter drugs in the United States are now imported. Ex-FDA officials, a representative from the General Accounting Office, and spokepersons from the Synthetic Organic Chemical Manufacturers Association (SOCMA) and the Generic Pharmaceuticals Association (GPhA) also testified about this subject before a congressional oversight committee in November 2007.

Pharma Companies Visited by EU Antitrust Regulators
Leading drug manufacturers, including Pfizer, AstraZeneca PLC, Sanofi-Aventis SA, Teva Pharmaceutical Ind., Wyeth and GlaxoSmithKline PLC are under investigation by European Commission antitrust regulators who are looking to determine if these companies tried to prevent generic drugs from being introduced to the market. Inspectors are looking to determine if patents and lawsuit settlements are being manipulated. Information about intellectual property rights, litigation and settlements in patent disputes was seized. The EC states that there are "indications that competition in the pharmaceutical markets in Europe may not be working well."

Chemtura Sells More Businesses

Chemtura has divested two more of its specialty businesses. DuPont purchased Chemtura's fluorochemicals operations for an undisclosed amount. PMC Group has agreed to acquire Chemtura's oleochemical business, also for an undisclosed amount. The business includes fatty acids, fatty esters, pharmaceutical-grade glycerin, glycerol esters, amides, bisamides, stearates, and triglycerides. These two transactions are part of the company's strategy to focus on its core businesses. In 2007, Chemtura also sold its organic peroxide, Ethylene-Propylene-Diene monomer (EPDM) and optical monomers businesses.

Enzymes Receive Growing Attention for Production of Chiral Compounds
Producers of fine chemicals increasingly employ biocatalysts for the synthesis of chiral molecules, key intermediates in the synthesis of complex pharmaceuticals and other specialty products. Enzymes can be used to catalyze the synthesis of a wide variety of highly pure, optically active compounds including alcohols, natural and synthetic amino acids, esters, carboxylic acids and many others. Types of enzymes include dehydrogenases, hydrolases, transferases, oxido-reductases, carbamoylases, etc. The use of enzymes often makes it possible to produce complex molecules in high selectivity and purity in fewer steps. Many involved in the sector predict that enzymes will replace a significant number of more traditional synthetic organic techniques for producing chiral intermediates. Companies developing enzymes for biocatalysis include Evonik, Lonza, DSM, Nicolas Piramel and Biocatalytics.

Great Future Predicted for Specialty Chemicals in India
The Indian government expects its specialty chemicals sector to grow at 15 percent per year until 2010 to 2011. It is currently valued at $10 billion. According to Ernst & Young, exports of specialty chemicals from India will total $13 billion in 2013, growing 22 percent annual from $4 billion in 2007. Key specialty chemical segments in India include paints and varnishes, adhesives, dyes and dye intermediates, flavors and fragrances, surfactants and pharmaceuticals. Increased outsourcing to India is a big contributor, as access to a skilled workforce and low labor and equipment costs will continue.

In the custom research and manufacturing sector (CRAMS), strong process chemistry skills, low operational costs and access to a skilled workforce have lead to rapid growth. Companies are faced with several challenges including learning to manage global organizations, rising labor and material costs and the need to retain trained workers. Many realize that cost savings is no longer enough to attract western outsourcing business. Companies are expanding to add services for the production of higher value-added and more complex products such as biologics and sterile APIs, as well as integrated drug discovery capabilities.

Investment in Biologics Paying Off
After a slow period for contract manufacturing of biologics that resulted in the closure or sale of some business and facilities, demand is on the rise and producers are positive about the future. Some predict the market for custom manufacturing of biologics will grow from $56 billion in 2006 to $115 billion in 2012. A rapid increase in the number of approvals of new biological entities (NBEs) by the U.S. FDA has been pointed to as an indicator of future growth. Others fear that the introduction of biogenerics to the market will impact the level of outsourcing for brand-name biologics. But most believe there is plenty of opportunity despite the expected approval of biosimilar products.

Recent actions by leading pharma companies also support the expectations for growth of biopharmaceuticals. Roche recently announced that it will invest $391 million to expand its biologics R&D and production sites in Switzerland and Germany. Meanwhile, Teva Pharmaceuticals agreed to acquire CoGenesys for $400 million, a spinoff of biopharmaceutical company Human Genome Sciences, in order to gain access to its biologic drugs pipeline.

Nanotech Still Holds Much Promise, but Regulation an Issue
For the first time in 2006, corporate and venture capital spending on nanotechnology research surpassed that of government investment and was growing at nearly double the rate as the commercialization of nanotech-based products. Major chemical companies such as DuPont, Bayer MaterialScience and BASF all have products on the market that incorporate nanotechnology. Many start-up companies in the energy, automotive, electronics and life sciences areas will soon be bringing new technologies to the consumer.

Consumers, while fascinated by the idea of nanotechnology, also are placing significant pressure on governments to regulate the impact that nanotech products might have on health and the environment. Many believe that it is important to evaluate potential risks before too many products containing nanomaterials make it to the commercialization stage. Both the U.S. EPA and the European Commission are investigating how to handle this issue. Particular difficulties include the large number of different forms of nanomaterials and the lack of instrumentation available for making appropriate measurements.

The U.S. EPA recently announced a voluntary reporting program for manufacturers, importers, processors and users of nanomaterials. The agency hopes to collect information over the next six months as part of its Nanoscale Materials Stewardship Program (NMSP). It also plans to develop test data for assessing the "hazards, exposures, and risks of nanoscale materials." In response to the announcement, both industry and environmental groups indicated that they believe the EPA is moving too slowly to establish an appropriate regulatory framework.

Outsourcing M&A in 2007
Consolidation among companies that provide outsourcing services to the pharma industry (contract manufacture, contract research, drug discovery, clinical trial management, etc.) continued in 2007, with private equity firms very active in acquiring non-core businesses divested by organizations looking to be more focused. Most deals were smaller in scale and many were global in nature. Approximately 120 transactions took place in 2007. Experts predict that because of the highly fragmented nature of the industry, M&A activity will continue in the outsourcing sector, but may move at a slower pace in 2008 due to the current economic climate.

One particular acquisition has many people taking notice. WuXi Pharmatec, the leading pharmaceutical and biotechnology R&D outsourcing company in China, recently purchased U.S.-based AppTec Laboratory Services, Inc., a provider of high-value testing, contract R&D and cGMP manufacturing services. The acquisition provides WuXi with access to FDA-approved facilities and an established customer base in the West, and it enables the company to provide an integrated and comprehensive set of outsourcing services to the global pharma industry. According to WuXi vice president Hai Mi, the two companies will be able to offer complementary and higher value-added services and expertise over a broad platform covering chemistry and biologics, while establishing a footprint in the United States and extending the company's customer base. He sees outsourcing as "global collaboration or networking," and believes its value is in the ability to develop higher numbers of drug candidates efficiently and cost effectively. Location - West versus East - isn't a factor.

Paper Chemicals Fighting Digital Movement
While many Americans are already weary of the current presidential race, paper chemical producers are happy with the extended timelines of recent elections, because they often result in increased demand for their products. 2008 is expected to be no exception. Bans on plastic bags in various cities around the world are also being viewed as a potential source for growth in the paper industry. Even so, the reduction in paper production that has taken place over the past several years will be difficult, if not impossible, to overcome. And as the move to digital media continues apace, suppliers to the paper industry will continue to face challenging market conditions. Consolidation and a focus on growth markets in Asia and Latin America have been the answer for paper chemical manufacturers. According to the Freedonia Group, Brazil, Chile and China are three countries that will experience strong volume demand.

Surfactants Turning Green
Dwindling margins due to higher raw material and energy costs hit the surfactant industry, but consumer demand for greener cleaners may provide opportunities for producers to recover some of these losses. Unfortunately, prices for oleochemicals, an alternative renewable feedstock, are climbing as demand from the biofuel sector continues to grow. The impact has been greatest in Europe, where biodiesel production is highest. That has led to other options. For example, Dow is introducing a biodegradable, nonionic seed oil-based surfactant called Ecosurf SA. Many companies are focusing on the development of naturally derived surfactants that contain no synthetic additives or preservatives and require little or no solvent use.

Biotech Looking Better in Europe
In 2007, biotech companies in Europe generated significant interest from big pharma companies, resulting in strong growth. GlaxoSmithKline set the stage with its $360 million (Euro 244 million) investment in Danish GenMab at the very end of 2006 and the $100 million licensing fee it paid to HuMax for its CD20 monoclonal antibody. Other partnerships formed in 2007 include Novartis' $1 billion payment for rights to use the antibody library developed by MorphoSys, Sanofi-Aventis' $1.12 billion payment to Regeneron for discovery of new human antibodies, and Boehringer Ingelheim's $1.8 billion payment to Ablynx for its nanobody technology.

Regulations Affecting Biotech Sector in China
Chinese regulations inhibiting the investment by foreign companies in biotechnology research within the country will affect development of the sector. Lax intellectual property laws also help reduce the level of venture capital flowing into new biotech startups in China. These constraints could allow India and other Asian countries to surpass China as leaders in biopharmaceuticals. Some domestic biotech firms are seeking other means of raising funding, including selling generic drugs or offering contract research services, but this strategy prevents the firms from having a focused and targeted approach.

India Facing Record Sulfur Prices
With prices rising more than $100/tonne in recent weeks, Indian buyers of Sulfur have been hit with record prices. Strong demand and tight supply are to blame for the current situation, which is expected to continue through 2008. Prices have risen more than $500/tonne from around $70/tonne at the beginning of 2007.

Oversupply in the Wings for Benzene
Producers attracted to healthy margins for Benzene over the past few years made investments in new capacity that will soon come on stream and tilt the market back to an oversupply situation. Significant new coal-based capacity in China, some of which was set to be operational in 2007, appears to have been delayed into 2008, allowing for a few months reprieve. It is likely, though, that by 2009 Asia will produce an excess of about 275,000 tonnes of Benzene, and that number could grow to nearly 1.4 million tonne in 2010. A shortage of Naphtha may have an impact, though, and reduce the number of new plants that actually become operational. Many of the Benzene facilities in China are integrated upstream into refineries, but government efforts to ensure a sufficient supply of gasoline and transportation fuels could take priority.

Petrochemicals Focus for Venezuela
Venezuela will invest about $45 billion (Euro 30.6 billion) in petrochemical projects (olefins, aromatics and fertilizers) over the next 14 years, including $20 billion to expand existing sites within the next several years. President Hugo Chavez has targeted chemicals as a key growth area for the country and a means for creating added value for its oil and gas resources. The country most urgently needs to boost plastic resin production to meet rapidly growing domestic demand, and it wants to increase fertilizer manufacturing to meet its food self-sufficiency plan. Challenges for the Venezuelan chemical industry include growing competition from the Middle East and a global lack of qualified engineers.

Positive Outlook for Polyester
The Polyester market should experience strong growth in 2008. Demand associated with the Olympics in China (water bottles and sports apparel) will be a key factor. Growth in demand in China, India and Indonesia will also be important. Growth in production capacity is expected to slow, resulting in a more limited supply. Tightness in feedstock markets may also help push up prices.

Prices of Asian Commodities Fluctuating
Spot prices for Butadiene in Asia have climbed dramatically in response to tightness in supply and a rise in feedstock costs. The strong level of demand, however, is expected to decrease by early February and lead to a drop in prices. Bisphenol-A (BPA) prices in China have also risen recently following declines at the end of 2007. Improvement in this market is attributed to a pick-up in demand as producers ramp up activity in preparation for the Chinese New Year. Margins still remain unacceptable, but manufacturers are hopeful that the increases will continue. Butanediol is expected to experience continued decline in demand, with prices dropping in response. Supply of product is more available now, and prices are already down about 8 percent since mid-December 2007. Oversupply has become an issue for Phenol in China, with prices dropping significantly. High imports and the startup of a new production facility have caused the problem. Asian Methanol prices are falling as supplies improve and demand declines; weakness is particularly noticeable in the Dimethyl ether market.

Promising Outlook for Acetone in China
The tightness in supply of Propylene feedstock has led to a shortage of Acetone in China, even in the weeks leading up to the Chinese New Year holiday. Producers raised spot Acetone prices as much as 7 percent to cover their higher operating costs. Many traders indicated that a tightness in the Acetone market itself also made it possible for buyers to accept the higher prices. Many are purchasing material in advance of plant turnarounds scheduled for the second quarter.

Styrene Market Improves in Asia, Prices Hold in U.S.
Prices for Styrene continue to rise in Asia following steep declines in December 2007 resulting from large supplies and weak demand. A reduction in the availability of material and a growing demand in the domestic Chinese market have led to recent price hikes. In the United States, despite a shortness in supply at several Styrene production plants, traders believe that more material is available from other sites and are resisting price hikes by manufacturers.

The new ExSyM process being developed by Exelus may help Styrene manufacturers reduce operating costs and achieve higher margins. The Process converts Toluene and Methanol to Styrene in one step under mild conditions and with reduced operating costs. Conventional technology consists of an energy-intensive, two-step process that involves reacting Benzene with Ethylene to form Ethylbenzene, which is then dehydrogenated. A pilot plant study of the new process will be initiated in the first quarter of 2008, and if successful, a commercial-scale demonstration at a large Styrene facility would be the next step.

U.S. Soda Ash Successful Overseas

Growing overseas demand for Soda ash will help manufacturers in the United States overcome the slowdown in the domestic economy. Export prices are as much as 10 percent higher than in 2007, driven by a tightness in the global supply of the material. The rapid growth of the construction and automotive industries in China and India are attributed to the rise in foreign demand. The favorable exchange rate has also helped Soda ash producers in the United States.

The recent acquisition of General Chemical Industrial Product's Soda ash business by India's Tata Chemicals for $1.01 billion may have a different impact on the U.S. Soda ash market. The purchase provides Tata with access to customers in North America, Latin America and the Far East. The deal must be approved by stockholders and appropriate regulatory agencies. Tata also gains access to the world's largest natural Trona ore deposits, which are converted into Soda ash. It also makes the company the second largest global producer behind Solvay.

Costly Replacement?
According to Formaldehyde industry group FormaCare, the cost of substituting Formaldehyde in all application areas in the European Union and Norway would total $43.2 billion (Euro 29.4 billion). That figure does not include the cost of addressing technical and supply issues. The group asserts that Formaldehyde is safe, despite its classification as a carcinogen by the International Agency for Research on Cancer. While there are substitutes available, they are more costly and in many cases less effective, FormaCare asserts.

Prices Moving Upwards for U.S. Glycerin
Demand for Glycerin as a feedstock for naturally-derived replacements of petrochemical-based compounds has turned around the market for producers in the United States. Production of Monopropylene glycol and Epichlorohydrin from Glycerin, use of Glycerin in detergents, and new industrial and agricultural applications have all resulted in significantly higher demand. Prices have risen accordingly. The outlook remains positive through the first quarter of the year and likely into the second.

Will 2008 Stay Strong for MEG?
Following a year that saw record pricing for Monoethylene glycol (MEG) in several regional markets, many wonder what will happen in 2008. Tightness in the global market due to planned and unplanned outages was the key driver for higher prices in 2007, and it is expected to continue for at least the first part of 2008. No new capacity will be coming on-stream until the middle of the year. In Europe, however, shortages have eased and the market is becoming more balanced. As a result, pricing is expected to stabilize or perhaps decline slightly. Spot prices have been dropping. Significant softening of the European MEG market is not anticipated until the fourth quarter. In Asia, traders predict prices will remain high throughout most of the year, with occasional downward dips.

Oleochemicals Production Still Growing in Asia
Although China is currently a major importer of oleochemicals, capacity expansions will soon outpace domestic demand. New capacity for both fatty acids and fatty alcohols is also being introduced in Indonesia, India and Thailand. Some producers are worried that the additional capacity will result in an oversupply situation.

Akzo Acquisition of ICI Completed
ICI ceased to exist when its shares stopped trading on the London Stock Exchange on Jan. 3, 2008. Akzo Nobel completed its $16 billion (Euro 11 billion) acquisition of ICI and is proceeding to integrate the two companies. It will also move ahead with the sale of ICI's adhesives and electronic materials businesses to Henkel, an agreement made as part of the ICI deal. ICI's management will be moved to Akzo's headquarters in Amsterdam. Synergies will be achieved through raw material cost savings, a reduction of administrative and corporate expenditures and the streamlining of operations.

Plastics Prices Rising
Prices of key plastics Polyethylene (PE), Polypropylene (PP) and Polyvinyl chloride (PVC) are rising in India and the Middle East as supplies remain tight and demand stays strong. Planned and unplanned outages have resulted in material being placed on allocation in the Middle East. Prices have risen as much as 6 percent as a result, and margins for plastic customers are severely squeezed. In India, hikes in feedstock costs are a major driver of increased prices for plastics, which have climbed over 3 percent. Strong demand has also been a factor in this region.

In China, scheduled maintenance turnarounds will be taking place at several PE and PP plants beginning in mid-March. Some of these facilities are very large, and reduced production could affect pricing in the country. In the United States, players in the polymers market are hopeful that the first three quarters of 2008 will see demand similar to that experienced in early 2007. However, they predict a drop off in the fourth quarter or early in 2009.

Changes at Borealis

As part of a new executive board structure, Borealis appointed executive vice president for polyolefins Mark Garrett as CEO, replacing John Taylor. Garrett will continue to manage the polyolefins unit until that position is filled. Henry Sperle, former head of the hydrocarbons business, has been appointed executive vice president for the Middle East and Asia. Herbert Willerth remains as the executive vice president of operations. Newly appointed board members include Martin Kuzaj as executive vice president of base chemicals and Daniel Shook as CFO.

New CEO for Solvay Advanced Polymers

Solvay Advanced Polymers appointed vice-president of technology George Corbin CEO and president, replacing Roger Kearns. Kearns has been appointed to a new position within the Solvay group.

New Leader at Sun Chemical
Sun Chemical appointed CFO and senior vice president Rudi Lenz as CEO, effective Jan. 1, 2008, replacing the retiring David Hill. Sun Chemical is part of Dainippon Ink and Chemicals.

Biofuels Under Fire in Europe?
While interest in biofuel remains high, concern about its impact on the food supply and climate change has raised questions about its true value. The European Parliament's environment committee recently released a report stating that biofuels should deliver carbon dioxide savings of at least 50 percent compared to fossil fuels if they are to be counted as part of the EU biofuel target for transportation use. The effect on climate change, land use, planning and sustainability objectives were not considered when the biofuels target was initially set.

An investigation by the European Commission's Joint Research Center found that the cost of producing biofuels for transportation use in practical quantities will be much greater than the benefits of its use. Europe should have one overall target, rather than a separate one for the transportation sector. Many governments in Europe and around the world have begun to reduce subsidies for biofuels in response to such concerns. Some would like to see a certification process for biofuels that addresses greenhouse gas-savings capability, as well as the other social and environmental impacts of different types of biofuel. An executive at Dow Europe suggested that the EU should use carbon dioxide reduction goals instead of biofuel targets.

Climate Change Legislation and the Chemical Industry
The new climate change bill introduced by the European Commission (EC) has received support and criticism from both industry and environmental groups. The bill includes a market-driven approach to carbon dioxide (CO2) emissions trading that should not hurt the competitiveness of European manufacturers in the global marketplace. It also sets targets for the consumption of renewable energy, including biofuels, and the reduction of greenhouse gas emissions.

It is likely that the U.S. Congress will pass some type of climate change bill in the near future as well. This legislation would place limits on greenhouse gas emissions and introduce a trading system for manufacturers and the transportation and energy sectors. While industry is concerned about the currently proposed cap-and-trade system, some companies see the new legislation as an opportunity. For example, there is growing interest in the possibility of using CO2 as a feedstock for production of Methanol and other key chemicals.

Famous Quotes of the Month

"A fine is a tax on doing wrong. A tax is a fine on doing well." (Anonymous)

"Happy are those who dream dreams and are ready to pay the price to make them come true." (Leon J. Suenes)

"The mark of a good team is how it reacts when things aren't going in its favor." (Chris Osgood)

What are eyebrows, and why do we have them?
There is a condition called alopecia in which a person has no eyebrows. The main gripe in not having them is that sweat pours into your eyes -- probably one of the two main reasons we have them in the first place, experts say.

Another use for those over-the-eye arcs of stubbly hair has to do with expressing emotion. If you ever doubt the power of eyebrows in conveying mood, just pay closer attention to the person you're talking to. See how often those brows move up and down as the person speaks with different tones. The position of the brow, emphasized by the eyebrows, is what gives us a visual cue as to what an individual is really feeling!