New Morningstar Analyst Report for Westlake Chemical

We contend that years of record profits are over for U.S. olefin producers that make ethylene, a chemical building block for plastics. Westlake Chemical generates the overwhelming majority of its profits from U.S. olefin production and serves as a play on the oil/gas price ratio as well as the fractionation spread, the difference between gas and natural gas liquid prices.