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Sir Jim Ratcliffe warns Europe’s chemical industry faces collapse by 2030 due to high costs and policies, risking 1.2 million jobs.
Ineos founder Sir Jim Ratcliffe is warning European leaders to take urgent action to prevent the collapse of the continent’s chemical industry, which he says is at a "tipping point."
He predicts half of Europe’s ethylene production capacity could close by 2030, with 21 major sites already shut down, representing over 11 million tonnes of lost capacity.
Output has dropped sharply in key nations—30% in the UK, 18% in Germany, and 12% in France.
Ratcliffe attributes the crisis to high energy costs, carbon taxes, and declining investment, noting that eight of the world’s 10 largest chemical companies are scaling back in Europe, while all top U.S. producers are expanding.
He demands removal of green and carbon taxes, elimination of carbon levies, and tariff protections, warning that without decisive policy changes, the industry could vanish, threatening up to 1.2 million jobs and Europe’s industrial base.
Sir Jim Ratcliffe advierte que la industria química de Europa se enfrenta a un colapso para 2030 debido a los altos costos y políticas, lo que pone en riesgo 1,2 millones de empleos.