No, it doesn't turn natural gas into resin. The cracker turns ethane into ethylene (as stated by the same source in another article.
http://fuelfix.com/midland/2014/06/18/shales-bounty-ignites-us-petrochemical-export-boom/
Polyethylene processing units, at different plants, then take that ethylene to plastic resins. ExxonMobil will have a couple units in nearby Mont Belvieu.
All that will do is create more dependence on FOREIGN oil. Odumbo and the EPA will put a stop to anything that helps reduce our dependency.
Sounds like a lot of work into the future for the heat exchanger and chiller unit manufacturers here in Tulsa.