{"id":16227,"date":"2025-01-13T02:27:35","date_gmt":"2025-01-13T02:27:35","guid":{"rendered":"https:\/\/thisbiginfluence.com\/?p=16227"},"modified":"2025-01-13T02:27:35","modified_gmt":"2025-01-13T02:27:35","slug":"britains-chemical-industry-dying-out-says-jim-ratcliffe","status":"publish","type":"post","link":"https:\/\/thisbiginfluence.com\/?p=16227","title":{"rendered":"Britain\u2019s chemical industry dying out, says Jim Ratcliffe"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the Editor\u2019s Digest without cost<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=65b387c9-4f32-430e-877b-9985ec03f385\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Britain\u2019s chemical business is heading for extinction due to a mix of excessive vitality costs and carbon taxes, in response to Sir Jim Ratcliffe, the billionaire proprietor of petrochemicals group Ineos.\u00a0<\/p>\n<p>The corporate, which owns a number of petrochemical crops at Grangemouth in Scotland and co-owns the related refinery, shut down ethanol manufacturing on the location final week. <\/p>\n<p>The 80 workers instantly affected have been redeployed throughout the remaining chemical substances operations at Grangemouth, though Ineos stated as many as 500 oblique roles can be affected throughout the broader economic system.\u00a0<\/p>\n<p>The group\u00a0stated final March that it could cease ethanol manufacturing\u00a0due to falling demand in Europe and growing stress from imports.\u00a0<\/p>\n<p>The operation, one in every of solely two in Europe, made artificial ethanol, used within the manufacture of pharmaceutical medicine and different vital medical purposes.\u00a0<\/p>\n<p>\u201cWe&#8217;re witnessing the extinction of one in every of our main industries as chemical manufacture has the life squeezed out of it,\u201d stated Ratcliffe. <\/p>\n<p>De-industrialising Britain, he added, achieved \u201cnothing for the atmosphere. It merely shifts manufacturing and emissions elsewhere.\u201d<\/p>\n<p><a href=\"https:\/\/www.ft.com\/stream\/0dbbf1e9-eb86-4d17-ac6c-8fabef718a9d\" data-trackable=\"link\">Ineos<\/a> stated the ethanol plant had been lossmaking for a number of years, specifically due to excessive vitality costs within the UK, which it stated had doubled prior to now 5 years and had been 5 occasions greater than these within the US. <\/p>\n<p>The \u201cprices specifically which have damage us have been round vitality as it&#8217;s fairly an energy-intensive course of and the supply is pure gasoline,\u201d stated Stuart Collings, chief government of Ineos Olefins and Polymers UK.\u00a0<\/p>\n<p>On the identical time, excessive carbon prices and stress from cheaper imports from nations akin to Pakistan had added to the challenges.\u00a0<\/p>\n<p>\u201cWe\u2019ve seen a shrinking market, decrease costs, greater prices and we\u2019ve reached the purpose the place it now not is sensible [to keep operating],\u201d stated Collings.\u00a0<\/p>\n<p>The warning comes after Britain\u2019s Chemical Industries Affiliation (CIA), the business commerce physique, <a href=\"https:\/\/www.cia.org.uk\/press-releases\/uks-chemical-industry-faces-stalling-growth-against-backdrop-of-rising-costs-sluggish-demand-and-chinese-competition\/776.article\" data-trackable=\"link\">warned late last year<\/a> that future funding was in danger as corporations battled rising prices and falling demand. <\/p>\n<p>It stated the business\u2019s output had fallen greater than 37 per cent since January 2021, citing official figures. Steve Elliott, chief government of the CIA, stated the steep fall was primarily due to the \u201cvalue of vitality and the associated value and uncertainty round carbon\u201d.\u00a0<\/p>\n<p>Though UK producers have lengthy complained of paying greater vitality prices than their European friends, the business on the continent is going through comparable challenges. <a href=\"https:\/\/cefic.org\/media-corner\/newsroom\/chemical-industrys-new-competitiveness-report-underlines-the-need-for-bold-action-from-eu-decision-makers\/\" data-trackable=\"link\">More than 11mn tonnes of capacity<\/a> have already been introduced to be closed between 2023 and 2024, in response to Cefic, the European business commerce physique.\u00a0\u00a0<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title\">Advisable<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"032e887e-4ea1-4841-826b-1487e05010ae\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/032e887e-4ea1-4841-826b-1487e05010ae\" data-trackable=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2242\/1261\"><img decoding=\"async\" class=\"o-teaser__image\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252F9c606e0e-6ea8-4f87-b468-6007f843a458.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next&amp;fit=scale-down&amp;dpr=2&amp;width=240\" alt=\"Manchester City v Manchester United at the Etihad stadium in Manchester\"\/><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>The sector was seeing \u201cbulletins of closures all throughout Europe,\u201d stated Ineos\u2019s Collings. \u201cWhat we&#8217;re saying to the federal government is \u2018get up\u2019.\u201d\u00a0<\/p>\n<p>Ineos stated it needed to see motion within the UK on vitality coverage and commerce coverage, in addition to on carbon prices. A brand new vitality coverage ought to present \u201cglobally aggressive pricing of pure gasoline\u201d. The present emissions buying and selling scheme, the place massive polluters can commerce \u201callowances\u201d that let them to emit a specific amount of carbon dioxide, acted as a tax on UK operators and favoured importers who paid nothing, it stated. <\/p>\n<p>Producers are additionally ready for the federal government\u2019s new industrial technique. The CIA\u2019s Elliott stated that though engagement with enterprise \u201chas been good, there may be nothing but that provides energy-intensive industries the boldness that we are going to be seen as a part of the answer\u201d.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.ft.com\/content\/65b387c9-4f32-430e-877b-9985ec03f385\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest without cost Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication. Britain\u2019s chemical business is heading for extinction due to a mix of excessive vitality costs and carbon taxes, in response to Sir Jim Ratcliffe, the billionaire proprietor of petrochemicals group Ineos.\u00a0 The corporate, which owns [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[174,5778,3800,786,1181,6682],"class_list":["post-16227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-britains","tag-chemical","tag-dying","tag-industry","tag-jim","tag-ratcliffe"],"_links":{"self":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/16227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16227"}],"version-history":[{"count":0,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/16227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/media\/16229"}],"wp:attachment":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}