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Regions :: Western Europe :: U.K.

Ineos chairman warns that Europe's chemical industry could disappear within a decade

2:16 AM MST | March 7, 2014 | Natasha Alperowicz

Jim Ratcliffe, chairman of Ineos, says that much of the European chemical industry could close within the next decade. In today's open letter to José Manuel Barroso, president of the European Commission, Ratcliffe says he is deeply concerned about the future of the European chemical industry and its 1 million direct and 5 million indirect jobs. "Sadly, I predict that much of it will face closure within the next 10 years," Ratcliffe says. Chemicals could go the same way as the European textile industry, which disappeared in the 1980s...

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Comments (3) for Ineos chairman warns that Europe's chemical industry could disappear within a decade
This is something that is evident some few years ago but, EU Commission and European politicians are not interested in the matter. Their problems are around how to increase taxes to finance their allways growing expenses and so America and Asia will take what Europeans like to gift.
Posted by Valentín González on Monday, March 10, 2014 @ 06:05 AM
What, precisely, are the recommended "...urgent steps to protect Europe's chemical industry"? Given that the two primary cost drivers are energy and feedstocks, and (as noted in the commentary) the Middle East and USA have competitive advantage for same (and is expected to persist for many years), what level of subsidies and tariffs would be required to make EU Chemical industry viable and what does this look like over the next two decades?
Posted by J. D. Baker on Monday, March 10, 2014 @ 09:20 AM
I think the urgent steps he is referring to are basically a cessation of negative activities. He rattles off green taxes, shale gas, nuclear power, and blocking "restructuring." I would guess that blocking restructuring has something to do with unions or European labor laws.

I heard this morning that Poland might disregard EU rules/recommendations/laws on fracking and move forward with fracking as a national security issue. Having Putin as your gas supplier in winter could make for a stressful situation.
Posted by Jared on Monday, March 10, 2014 @ 10:13 AM

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