Billionaire Jim Ratcliffe Slams Europe’s Chemical Industry

Рет қаралды 42,082

Ай бұрын

Billionaire Jim Ratcliffe, the head and founder of industry giant Ineos Group, says the high cost of energy and carbon have left Europe’s petrochemical industry struggling to compete with the rest of the world. “Everybody’s leaving petrochemicals in Europe, which I’ve never seen in my working life before,” Ratcliffe said in an interview with Bloomberg's Francine Lacqua.
Watch the full interview: • Billionaire Jim Ratcli...
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Пікірлер: 116

@jonathanhicks140 Ай бұрын

It is crazy that our’ government imposes incredibly high standards on our domestic industries, including farming, in terms of minimum wages, health & safety, emissions, CO2, & forces them to use renewables etc. - but then allows unlimited imports of products & foodstuffs from third world countries who have non of these & where standards are worse than they would be here even if there was no form of regulation of domestic industries/ farming/ commercial fishing. So we destroy our domestic producers, cause environmental destruction to grow products in countries with no history of producing them, cause terrible labour conditions including child labour to rise, & increase pollution globally because they are powered by new coal fired power stations burning the cheapest grade of coal which produces higher emissions, & on top of that it all has to be shipped (often flown here for perishable foodstuffs) creating even greater emissions. Yet somehow this is supposed to save the planet? It just doesn’t add up, but as long as the environmentally conscious, protest marching, Peregrin & Henrietta can still get fresh Kiki fruit & avocados in Waitrose then they seem to overlook this.

@user-ji2xk4tg3t Ай бұрын

Would be hard to find a way of saying that any better. Correct 101%

@user-ji2xk4tg3t Ай бұрын

Reform uk should fix this, it’s the only party who has even mentioned this very important situation

@highlandmalt6368 Ай бұрын

It's because they are absolutely clueless.

@thomasecosse Ай бұрын

It took decades to build all these lost industries, and thanks to the likes of Margaret Thatcher and her mob, they have hollowed out these industries as well the futures of younger generations of potentially very clever and skilful people. Today, in the UK we have a complete absence of political VISIONARY LEADERSHIP. For a nation that achieved so much, we have fallen to new lows. It is a very sad situation.

@thomasecosse Ай бұрын

@@user-ji2xk4tg3t Reform is not capable!

@aaronmccardie8795 Ай бұрын

Blame our government for getting rid of Industry.

@dwapo Ай бұрын

Jim the brexiter who offshores production and lives in Monaco is surprised his pals are doing the same.

@garthkite Ай бұрын

Did you watch the video?. 5000% higher energy costs compared to other developed countries is a fatal disadvantage, perhaps he thought that our government would deviate from European policy, he thought wrong, our leaders are all too thick.

@liammiskell3522 Ай бұрын

He literally just said he used to produce in the EU and has been moving production and investment to the US, ME and China.

@ashleigh3021 25 күн бұрын

@@garthkiteBut they aren’t 5000% higher, complete nonsense. There are different grids with different fuel mixes and different prices in every region in the US, as well as the obvious fact that the electricity price varies by the hour.

@Art-is-craft Ай бұрын

US has geography and a free market that makes things very cheap and easy.

@AaaaandAction Ай бұрын

Our leaders and supposedly clever betters have year after year shot ourselves in the foot with outsourcing, taxes and stringent rules thinking we’ll recover, but the truth is that firms and investment will just go where doing business is easier and more profitable……. who wouldn’t?

@AmerBoyo Ай бұрын

If we bring it back, it has to be clean, we need to be reducing pollution, not increasing it!

@liammiskell3522 Ай бұрын

You won't be bringing it back because,as he pointed out, energy costs are too high. You can have clean energy but you won't need it as you will always get undercut by those willing to use petrochemicals. And when all is said and done you will take loans to buy goods from manufacturing nations as it is the only way to sustain GDP.

@DineshTwanabasu Ай бұрын

When Europe have no courage to ask who blew up the pipelines supplying the lifeline energy to Europe then you are already finished.

@87mrreynolds Ай бұрын

Exactly we lead by corrupt cowards

@87mrreynolds Ай бұрын

Exactly we lead by corrupt cowards

@charleysurf1 Ай бұрын

Your boy Putin should stop invading other countries.

@q9r8s7t6u5v4w3x2y1z0 Ай бұрын

you know it all

@Dumbled0resArmy Ай бұрын

They didn't investigate because I'm sure the US sent them a memo beforehand

@trickydicky90 Ай бұрын

What an odd interview, did he not have good night's sleep. He sounds depressed. UK leads the world in specialists Industires and Finance.

@pookachu64 Ай бұрын

Between us and the Germans, we practically invented the industry

@sydneylousr Ай бұрын

No, you're really not anymore. And no one outside of your country would agree.

@sydneylousr Ай бұрын

Now you're starting to sound like the spanish, who defend their current country by talking about their past.

@ryanf6530 Ай бұрын

Europe chose to become reliant on cheap Russian oil and gas. Now it's feeling the consequences of that decision.

@JonWilde2105 Ай бұрын

Europe chose to go to war with its only source of cheap energy. Now it’s feeling the consequences of that decision.

@cdeb5898 Ай бұрын

Now we are dependent on US gas.. make it make sense..

@JonWilde2105 Ай бұрын

Its crazy how the censorship works. They don't stop you entering the "wrongthink" into their public square to dispute their narrative. They just output the "wrongthink" into an entirely separate instance of non-reality where its not observed and is utterly meaningless. You win. They win. The revolution will be downvoted.

@JamesSmith-uw4nx Ай бұрын

It doesn't make sense, now Europe's a client state of the US

@sydneylousr Ай бұрын

What alternative did europe have? Without the US your own politicians would've immediately jumped into the hands of the bolsheviks.

@JonWhitton Ай бұрын

Well said Jim. Solid fact based answers

@leebailey229 Ай бұрын

I would love to work for Jim.

@papamurrth1 Ай бұрын

He slammed the UK chemical industry. As he said in the opening, it is worth $1trn in Europe. It is finished in the UK.

@snaggletooth4585 Ай бұрын

Interviewers timing was pure amateur

@KarelBeelaertsvanBlokland Ай бұрын

"Europe is non-competitive with 5 times higher energy costs aside from Carbon Credits resulting in a stagnant economy for 25 years "....

@SH-jg5zq Ай бұрын

Yessssss lets get all of Europe's industry. That was the goal, or am I wrong? 😂😂😂

@anthonyferris8912 Ай бұрын

@SH-jg5zq...Er wrong. 😄

@tropics8407 Ай бұрын

Unbelievable 😢 you cannot tax your way to prosperity

@highlandmalt6368 Ай бұрын

Echos of John Harvey-Jones

@YouThana Ай бұрын

Germany is being deindustrialized currently. The greenies are pushing massively for high energy cost and a reduction of energy consumption. The catch is, this is actually not green because reducing energy consumption is not the same as reducing CO2. They want both, regardless if the energy is renewable. Currently big chemical companies and parts of the industry are fleeing to either China or Amierica.

@user-nh1yb9mk7y Ай бұрын

No one will sell gas to Germany for 100 usd which is the price of gas in the USA.

@YouThana Ай бұрын

@@user-nh1yb9mk7y Cheap gas is just one part of the story. The other parts regard the lack of electrical power due to a politically mandated Push for renewables and the resistance against nuclear power. Also the CO² taxation starts to cripple whole Industries.

@sciencefliestothemoon2305 Ай бұрын

Yeah, building up green tech is deindustrialization.

@sydneylousr Ай бұрын

You must realize that it's not by accident, both the US and USSR propagandized germany PERFECTLY. Germany will tear itself down into irrelevance, just as planned.

@user-nh1yb9mk7y Ай бұрын

@@sydneylousr Germany has two choices. Be a part of the American alliances or be against the USA. No one forced Germany to buy Russian gas, they were offered other sources and warned about the possible conflict.

@patrickmccutcheon9361 26 күн бұрын

Europe has been disadvantaged by higher energy costs for decades. This has been aggravated by the loss of Russian gas and the green agenda.

@CROMCALL 24 күн бұрын

How does a government bring back industry

@Fabianvolf Ай бұрын

A Kwh of energy in Germany is 0,27 EUR (including carbon tax) at the moment and 0,17 USD in Texas. What is bro yapping about?

@6jot Ай бұрын

You are comparing Apples to Oranges.

@Fabianvolf Ай бұрын

@@6jot How exactly is comparing a unit of energy to the same unit an apples to oranges comparison?

@jm-je4tl Ай бұрын

What is the cost of energy in China?

@6jot Ай бұрын

@@Fabianvolf 0.27 EUR per kWh is not what large consumers pay. If you are from Germany, it's not your fault that you are being affected by your government's policies, which are primarily influenced by politicians (Most of them are mainly lawyers or have bs degrees) who may not fully understand the complexities of the energy market.

@6jot Ай бұрын

@@jm-je4tl Over the past few decades, the Chinese government has maintained low energy prices about 2-4 Cents / kWh by allowing the construction of inexpensive, dirty coal plants without filters or sulfur washing facilities to power the world's largest factories. These power plants have caused severe pollution in big cities, leading to poor visibility and a dramatic increase in lung cancer rates. Additionally, the use of these coal plants has resulted in an insane amount of CO2 emissions, contributing significantly to global climate change.

@abubakryasin5082 22 күн бұрын

Not Government rationale his loyalty is to himself and his dividend 😅

@BIBIWCICC Ай бұрын

That’s rich coming from the guy who owns ICI that poisoned the world and runs the doped up cycling team that used to be team Sky. I think he needs to concentrate on making decent grenadiers with finished interiors and no masses of technical faults before he criticises the EU.

@DC-ux1dt Ай бұрын

Anything for more profits.

@tancdiscovery9432 Ай бұрын

Hey Jim, there's something called climate change 🙄

@sydneylousr Ай бұрын

You brit's will be living in poverty while the rest of the world chugs along and has a more decent standard of living. And in 100 years your descendants will still be in poverty because of people like you.

@liammiskell3522 Ай бұрын

There's also something called cheap energy and without it you can basically expect an economic dark age. In order to meet even the most meagre Co2 targets, you would be looking at doubling the price of electricity.

@tancdiscovery9432 Ай бұрын

@@liammiskell3522 Climate breakdown will send us back to the dark ages let alone economic. Oh and the only cheap energy is renewables. Please get a clue.

@6jot Ай бұрын

Unions are a mess in USA

@jorgegomez524 Ай бұрын

Ibéria will be the powerhouse of Europe industry

@liammiskell3522 Ай бұрын

I guarantee it won't.

@Tropper73 Ай бұрын

This interview is absolutely fascinating. Ractcliffe delivered a profound, meticulous and straightforward analysis of the sector.

@bbrs925 Ай бұрын

Mmm delicious chemicals

@zaharizahariev Ай бұрын

City of London venerable lizards 🦎 don’t like dirty industries They like to own them but far away as to not spoil their sensitivities.

@sweatnosweat Ай бұрын

what happened with clothes will happen will everything. until it all resets again.

@ajluvzlondon4214 Ай бұрын

So looks like Brexit is working out splendidly then…thanks!

@beatonthedonis Ай бұрын

This clown backed Brexit and had the choice to open a new car factory in the UK. Instead he chose a town near Strasbourg in France, the home of the European Parliament. He now regrets Brexit and is backing Labour.

@United_Wings Ай бұрын

@mikecounsell Ай бұрын

Let him talk !!!

@glennnielsen8054 Ай бұрын

Is it because in today's society we tend to keep them down that makes all the difference?

@abcdef-un5by Ай бұрын

Sell Manchester United if you cannot make any signings 😂

@Art-is-craft Ай бұрын

What?

@tvm73827 Ай бұрын

Goodbye to the empire on which the sun never sets 👋. Nice knowing you

@anthonyferris8912 Ай бұрын

@tvm73836...Along with the French, Dutch, Portuguese, German, Spanish etc…😆

@Flex385 Ай бұрын

I cant understand why my government (germany) bought LNG for years on a extraordinary high price. higher then the highest spot price in the ukraine crisis. Its not that they bought some deliveries, no, for years!!!

@antonymossop3135 Ай бұрын

Because they saw steadying their stock market as being the short term solution...?

@Timo-qb1gf Ай бұрын

And he was pro-brexit causing alot of the last bits of the industry to have no chance. Then moved himself out of the country.

@antonymossop3135 Ай бұрын

It's almost like you're suggesting that he might only be looking out for himself...?

@kevinfitz8516 Ай бұрын

this is what I have against Ratcliffe, he isnt very friendly to the environment

@davecom3 Ай бұрын

And he's also a hypocrite. Championed Brexit then when Brexit happened he moved Ineos manufacturing to Europe. Doesn't pay UK taxes either, lives in Monaco

@liammiskell3522 Ай бұрын

@@davecom3Literally just explained how he is moving investment out of the EU and why.

@atavachron27 Ай бұрын

@@davecom3 you don't have a clue! He moved to Monaco at age 65 (when a lot of Brits also typically move to Spain or France)....he paid UK taxes until then and Ineos continue to pay huge tax and exploy many people in the UK. The Ineos factory in Hambach was too good of an opportunity....reasonably new Mercedes factory complete with trained and skilled personnel ,vs building a brand new factory in Wales, which woudl have been incredibly expensive and not great for supply chain. He would also have likely faced poor productivity from lazy British workers and union issues no doubt. As a world class business man.....what would you have expected him to do? Try to think with your head rather than an out of date "British Empire" mentality.