Which feedstock route wins in Organic Chemicals as oil, coal and carbon costs shift?

Which feedstock route wins in Organic Chemicals as oil, coal and carbon costs shift?
Olefins and aromatics sit on three routes: naphtha cracking, coal-to-chemicals and ethane cracking. Ethane cracking holds a yield and cost edge, while coal-based units benefit from secured coal supply but face heavy coal, water and carbon intensity plus tough new-project approval. Aromatics look tighter than olefins, with PX in near balance and PTA heavily oversupplied, pushing profit upstream. The decisive variable is carbon cost. Coal-based MEG already carries a meaningful carbon bill per ton, and as carbon prices rise that advantage erodes steadily.