Chemical Fuels And Other Organometallic Compounds: Their Impact On The Mineral Industry ? I. Introduction

This morning I would like to speak to you about an area of chemistry that is enjoying a revival-organometallic compounds. This renewed interest, principally stimulated by defense needs, has already created new markets for the products of the mineral industry. Although the consumption of metals in these new products is modest at oresent, several hold promise of importance. Because this is a new and growing market, I am sure the Council of Economics is aware of many of its facets and is interested in new developments. Of course, the chemical industry has been a significant consumer of minerals for many years. I estimate that in 1957 the chemical-industry purchased a total of $1175 million worth of minerals as raw materials (not including fuels). This estimate can be broken down as follows: [Metals and metallic minerals $375 million Nonmetallic minerals (excluding hydrocarbons ) 330 million Hydrocarbons 470 million $1175 million]