Chemical companies are putting European assets up for sale as they review their operations in the region to cope with high energy prices and competition from newer plants in Asia and the Middle East.
Sir Jim Ratcliffe, the billionaire owner of petrochemicals group Ineos, has consistently warned that Britain’s chemical industry is heading for extinction because of high energy prices and carbon taxes.
How is it Europe fault’s that China is still happily building new coal plants and not regulating industry?
well… the situation is very convenient for Europe as they still get what they need but those things that depend on pollution come from outside Europe. a better policy would be for Europe to aim for ecological preservation without doing that at the expense of other willing countries
So, what should Europe do?
But, those factories can obviously operate just fine inside Europe, as they are currently doing so. They just make more profit under the lax Chinese regulations, which are set that way by the Chinese government.
Europe can’t legislate China.