Ineos is pausing production at three plants in Hull, blaming soaring UK gas prices that it says are twelve times higher than in the US. The shutdown affects facilities producing acetic acid, acetic anhydride and ethyl acetate. Around 1,000 staff could be affected, while Ineos explores importing cheaper US LNG and calls for protection against Chinese chemical imports.
Personal Remarks
The British and EU governments seem to share a very special interpretation of the free market: Soviet-Bolshevik economics, à la sauce Trotskyist-Leninist — but with caviar, champagne and EU grants.