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Plastic recycling is a PR campaign to relieve our guilt about single-use plastics and keep consuming. In reality: 95% of plastic is trashed. The oil and gas industry knew widespread plastic recycling was never feasible back in the 70's but keep up the narrative.
It depends on the plastic. Plastic is only possible to be efficiently recycled if it is not contaminated with other grades of plastic. In the real world this is incredibly difficult to achieve. A bulk of recycled plastic are just warehouse and logisitic networks baling polypropylene film because it can be easy to seperate.
There's a learning there. Corporations haven't done that only once, it's their mode of operation. The food pyramid? Sugar vs Fat? Personal carbon footprint?
It's all mostly lies (international differences may apply) created by small groups to make money (big surprise there).
The biggest mistake we made is personifying companies and removing people from accountability.
It's all trash, the recycled plastic is good for less than nothing, as it frees masses of chemical additives that aren't well regulated or even known in the process, and they can't use it for basically anything.
They had documents from their internal communications at the oil companies leak I think about manufacturing this whole recycling thing to shift the blame onto us, and we all bought into it, I remember them pushing this hard in elementary school. Reduce, Reuse, recycle, which ok, that's all fine and well, but we are living in a society run by people forcing us into wasteful lifestyles.