Dow Chief Explains

The candid CEO of Dow Chemical(DOW),Andrew Liveris,has expressed bitter criticism of the U.S. government's failure to adopt an energy policy.We are in a true energy crisis,and U.S. competitiveness is losing ground as a result,Mr.Liveris said.Higher energy costs are causing Dow to have difficult discussions with its customers.Feedstock and energy costs have continued to rise from their Q1 high.Dow utilizes one million barrels of oil a day to convert into useful products.The company is essential to the value chain.They have to pass price increases on.It's one of the few things they can do.Overwhelmingly,everyone in the value chain downstream from Dow has said thank you:now they can raise their prices in turn,Mr.Liveris revealed.