Most types of plastic are not recyclable. The plastic that is recycled eventually becomes flimsy and needs to have raw plastic added for strength. Raw plastic is made from petroleum. We should be moving away from mining oil not towards it. Fracking is often teamed with plastic production.
Massive tons of plastic are in our oceans killing marine life and pervasively changing the ecology of our oceans. The largest gyre, Great Pacific Garbage Patch, (twice the state of Texas so far) consists mostly of small particles ingested by sea life.