Editorial November 2021 Are we back to Pre-Covid level Boom or Bust
16 Nov 2021
Today, I want to highlight the importance of Twitter as a social media for the chemical industry. You might have recently been aware of how important people like Donald Trump, Elon Musk, Our beloved PM and several celebrities have been using Twitter as a primary way to use social media to point out important announcements. We too being a media company want you to like and follow us on Twitter and other social media like Facebook and LinkedIn.
I personally feel LinkedIn is for professionals and hugely beneficial for connecting with important people in the industry and Twitter is an important medium as it highlights news and information which comes directly from the source. Twitter usually had no fake news as it truly comes from the company themselves. So go ahead and be a part of the social media platform. There is no way you can ignore it if you want to be on a global scale and connect with important people and personalities.
There have been a lot of positive earnings releases from chemical companies and they have been doing great. Well how long will the bull-run go on? The things are back to normal with business back to pre-Covid level and higher. The travel buzz is on everyone’s mind with holiday season coming up after celebrating the big Diwali being more of a family thing. The month of November and December is more open for travelling.
The resorts, hotels and airfares have shot up considerably as the vaccination rate has improved and passed the 1 cr mark. Malls are getting back to normalcy with the shopping season and Thanksgiving deals back to stores. The only issue here is logistics and supply chain. Are the shelves going to be fully stacked? Based on the current consumption levels, so far its good. Will there be inflation rising the prices of goods and services? Only the next two-three months will tell if things are going to be normal again and the next year going to be boom or a bust.
The Climate summit “The Glasgow Climate Pack”, the final draft from the 26th Conference of the Parties (COP26), was passed by almost 200 countries on 13th November, as negotiations went past the Friday closing of the conference. The final text included language to reduce the use of fossil fuels, phase out subsidies for fossil fuels and transition countries to using more renewable energy sources like solar and wind, Axios and the Washington Post reported. The pact however does not hold wealthy countries to specific financial commitments to help poorer countries, which have been and are the most devastated by climate change.
The language was removed from the draft overnight and in response, China and India watered down the language from phasing out to phasing down. With this there was disappointment among the wealthy nations, but according to some leaders from the poorer countries, unless the wealthier nations are held accountable for the climate change and create a financial backing for poorer countries which has been suffering from the impact of climate change, there is nothing but disappointment. So there will be further escalation next year till than everyone will try to prevent the earth’s temperature rise from 2.4 degree Celsius.
On the other hand, companies making electric cars are being punished by the oil giants and have tried and been trying to bring down the world’s most admired company Tesla which provides a way and means to reduce the use of fossil fuels and harness the biggest nuclear reactor The Sun from using the solar energy and store them in batteries for use later. There have been several small and big companies trying to level up with Tesla which has reached a point where it is really difficult to compete with.
The automobile sector is on a cusp of a revolution and we have been eyeing companies here in India like Aether and Tata Motors who have been successful so far in the electric bikes and car segments.
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