Reuters is reporting ExxonMobil plans to build a multi-billion-dollar chemical plant in Texas. The proposed plant would produce 1.5 million tons annually of ethylene, a key material used in the production of plastics. While the company previously said it had no plans to expand chemical production in the United States, Reuters reports the low cost of shale-derived natural gas — which is used in chemical production — may have prompted the change. Other companies, including Dow and Royal Dutch Shell, have announced plans to expand chemical production in the United States.