THENATIONALPULSE (Pulse Wires) - Chemicals Tycoon Shuts Down Three Plants Due to ‘Ridiculously High Energy Prices.’
Soaring energy prices in the United Kingdom have led Ineos to halt operations at three chemical plants, jeopardizing thousands of jobs and raising concerns over the country’s industrial and environmental policies.
Soaring energy prices in the United Kingdom have led Ineos to halt operations at three chemical plants, jeopardizing thousands of jobs and raising concerns over the country’s industrial and environmental policies. PULSE POINTS WHAT HAPPENED: Ineos has announced the mothballing of three chemical plants in Hull due to “ridiculously high energy prices” in the United Kingdom, according to company founder Sir Jim Ratcliffe. The plants are critical to various industries including pharmaceuticals, construction, and cosmetics. This follows President Donald J. Trump chastising successive British prime ministers for sabotaging the North Sea oil and gas sector, arguing that it could supply cheap and plentiful energy and make Britain “a…Open