Pushes the Price of Air Pollution Control Products Skyward
on: February 27, 2008, 1:54 pm
Release Author: CleaAIR Systems
Release Summary: The effect of escalating platinum prices on the
cost of reducing air pollution.
Release Body: Santa Fe, NM – February 27, 2008 – During
Sunday’s CBS broadcast of
60 Minutes, veteran commentator Andy Rooney asked
what was all the fuss concerning the recent astronomical rise in
platinum prices. Rooney ranted “I don’t really know
what platinum is. What do they do with platinum anyway?”
When it comes to cleaning up air pollution, the answer is plenty.
manufacturers of air pollution control products are the top consumers
of platinum - not the jewelry industry. Platinum
is the catalyst used inside of most catalytic converters and diesel
particulate filters to rid exhaust emissions of dangerous soot,
hydrocarbons and carbon monoxide. With ever-more stringent air quality
regulations being enforced in the United States and Europe, the
demand for platinum has soared with the demand to control air pollution
in cars, diesel trucks, construction vehicles, and emergency generators.
recent shutdown of South African mines caused an increase of 41%
in platinum prices since the beginning of the year. As South Africa
supplies 78 percent of the world’s supply of this precious
metal, even a stoppage of a few days has a worldwide effect on prices.
To put this dramatic rise in perspective:
- On February 21st, platinum reached an all-time high of $2,185
a troy ounce
- During the same month a year ago, platinum averaged $1,207 a troy
- Five years ago, it averaged $684 a troy ounce during February
an estimated worldwide shortage of 400,000 troy ounces predicted
for 2008, prices may remain a volatile rollercoaster.
effect does escalating platinum prices have on the cost of reducing
of air pollution control products are finding it increasingly more
expensive to produce catalytic converters and particulate filters
mandated by the EPA, the European Union
and the California Air Resources Board.
“We used to adjust our product prices twice per year according
to the rise and fall of platinum prices,” said Technical
Sales Engineer, Ralph Wintersberger of CleanAIR Systems,
a manufacturer of diesel particulate filters and oxidation converters.
“Now we have no choice but to keep a close eye on platinum
fluctuations and make daily adjustments to our prices.”
the end, the ever-increasing cost of cleaning up air pollution is
passed on to the consumer:
- As the price of platinum rises, the price tag on cars and trucks
will also increase to cover the cost of catalytic converters made
with high-priced platinum.
- Hospitals, schools, and data centers will feel the brunt of escalating
platinum prices when they install diesel particulate filters on
their emergency backup generators to decrease toxic air pollution.
- Diesel school buses are being retrofitted all over the country
with converters to protect children from dangerous pollutants –
a direct cause of asthma, bronchitis and other lung impairments.
High platinum prices translates into fewer buses being retrofitted
for the safety of riders.
- Mining equipment and construction vehicles are equipped with air
pollution control technology to decrease on-site emissions of particulate
pollution. The increased cost of catalyzed filters is passed on
to the public in the form of durable goods, new homes and taxes
to cover building and transportation projects.
Andy Rooney – you may not know what platinum is used for,
but you will eventually feel the pinch of unprecedented soaring
platinum prices in your pocketbook.
CleanAIR Systems is a technology-based corporation
manufacturing emissions control systems with worldwide distribution.
Our products are designed to control air pollution such as diesel
particulate matter and NOx, for on- and off-road vehicles, as well
as stationary machinery and power generation. Visit CleanAIR
Systems online at www.cleanairsys.com.
Details: PO Box 23449
Santa Fe, NM 87502
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