From waxes to riches

Much of the economic growth in the 20th century can be attributed to the availability of cheap oil. While most people recognise oil as a primary source of fuel and energy, its importance to the manufacture of chemicals, including pharmaceuticals and polymers, is less well appreciated. 

Over 90 per cent of the synthetic organic chemicals used in the world today come from oil and other fossil resources (gas and coal).¹ The production of these chemicals from non-renewable resources comes with another cost - the entire chemical sector produces about 1 billion Mt or 4 per cent of global carbon dioxide emissions worldwide as a result of the processes used.  

Reducing the dependence of the chemical industry on fossil-based resources would both increase the lifetime of what petroleum is left in the world and reduce the effects of global warming and pollution. Furthermore, if we could find more local sources of carbon that could feed the chemical industry, we would reduce our dependence on foreign oil - a dependence that can only become more expensive and more politically problematic.  

So what source of carbon is renewable, abundant and widely distributed across the planet? The answer lies in plants, including trees, grasses and crops.