Overview
- Speaking in Antwerp, Jim Ratcliffe told industry and political leaders the sector is shutting down and essential to national security.
- He reported that 101 European sites have closed in two years, around 25 million tonnes of chemical capacity have left, and more than 75,000 jobs have been lost.
- He blamed energy prices roughly four times U.S. levels, rising CO2 charges, and weak trade protection for deterring investment in Europe.
- He argued EU climate policy has exported emissions by shifting production to the United States and China, where carbon intensity is higher.
- Ineos itself has closed multiple European facilities, including two Rheinberg plants announced last year, and employs more than 2,500 people in Cologne.