Originally Posted by JeffS
Yes, but they don't recycle into more bottles. They only "recycle" down, into less-desirable products. The supply of material exceeds demand at this point, and probably always will.
Actually, I think the industry does allow for a certain percentage of recycled plastic to be used in new plastic bottle manufacture. I could be wrong, but I'm pretty sure I saw that on a "How It's Made" episode about plastic container manufacture on the Science Channel.