Liveris said what was needed was a policy that would encourage investment in operations that would use shale gas not only as an energy source but as a feedstock for manufacturing other products. He said Texas already understood this and that Dow was ready to work with the federal government in developing such a policy.
"If we do this right, we will create 400,000 new jobs in the chemical industry and more than $132 billion in new manufacturing output that with a small amount of taxes could go back to the American economy."
Liveris said the US risks squandering its shale gas resources without a coherent energy policy.
"If we export it, and if we export too much, some say as much as 15% of it exported, we will bring the price of oil back to this economy, thereby killing investments like this."
The new ethylene cracker at Dow's Freeport plant is expected to create 2000 construction jobs.