Peter Huntsman Testifies Before U.S. Congressional Committee
The Woodlands, Texas – Peter Huntsman, Chairman, President and CEO of Huntsman Corporation, testified before the U.S. House of Representatives Committee on Energy & Commerce on the need for predictable regulation from the U.S. Environmental Protection Agency (EPA) that fosters chemical innovation.
“If Huntsman scientists today invented a molecule that would transform the world and massively reduce greenhouse gas emissions, it would take years to be approved by EPA for sale in the marketplace,” Peter said. Under federal law, new chemicals must be approved within 90 days. Currently, new chemicals take on average three years to get approved.
As Peter stated in his written testimony, automobiles, passenger airplanes, smartphones, residential homes, commercial buildings, pharmaceuticals, clothing, soap, shampoo, shoes, clean drinking water and crop fertilizer are examples of products made possible by chemical manufacturing. During the hearing, he also touched on the world's need for continued fossil fuel development and the critical role nuclear power must play going forward, as well as the danger of the ongoing and intentional European deindustrialization and energy insecurity.
The hearing, “Exposing EPA Efforts to Limit Chemicals Needed for Life-Saving Medical Devices and Other Essential Products,” was a forum for committee members to discuss and debate the current state of EPA chemical regulations. Those testifying also included Chris Jahn, President and CEO, American Chemistry Council (ACC); Scott Whitaker, President and CEO, Advanced Medical Technology Association (AdvaMed); and Tracey Woodruff, PhD, MPH, UCSF Program on Reproductive Health and the Environment.
To learn more: http://www.youtube.com/watch?v=B9nlIA_VY_U
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at 9qeufn.paybur.com.
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman’s operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
Released October 19, 2023