Ya ain't begun to feel the pain yet.

Dow Chemical Co. will raise its prices by up to 20 percent almost immediately to offset the soaring cost of energy, and the CEO of the chemical giant lashed out at Washington today for failing to develop a sound energy policy.

Dow supplies a broad swath of industries, from agriculture to health care, and any sizable price jump would likely affect almost all of them.

The price increases will take effect Sunday and will be based on a product's exposure to rising costs. Dow said it spent $8 billion on energy and hydrocarbon-based feedstock, or raw materials, in 2002 and that could climb fourfold to $32 billion this year.

Midland, Mich.-based Dow Chemical makes everything from the propylene glycols used in antifreeze, coolants, solvents, cosmetics and pharmaceuticals, to acrylic, acid-based products used in detergents, wastewater-treatment and disposable diapers.

It makes key ingredients used in paints, textiles, glass, packaging and cars.

Its products are sold in 160 countries. Dow operates plants in South Charleston and Institute, W.Va.

The company last month reported a 3 percent drop in quarterly earnings, despite a 42 percent jump in feedstock and energy costs.

http://www.wvgazette.com/News/Business/200805280298