Britain has predicted the disappearance of its own chemical industry

Britain's chemical industry is on the verge of extinction due to high energy prices and carbon taxes, Jim Ratcliffe, founder of international chemical giant Ineos, said Jan. 13.

"We are witnessing the extinction of one of our major industries as all the juices are squeezed out of chemical production," the Financial Times newspaper quoted him as saying after the closure of Ineos' ethanol plant in Grangemouth, Scotland.

According to the billionaire, the deindustrialization of the United Kingdom has done nothing for the environment and only moves production with harmful emissions to other places.

The publication noted that the closed plant in Grangemouth was one of two in Europe where synthetic ethanol for the pharmaceutical industry was produced. At the same time, the plant had become unprofitable in the past few years.

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Earlier, on January 10, the British company Centrica reported about the decline to an alarming level of gas reserves in storage facilities in the United Kingdom. This occurred against the background of the termination of Russian gas supplies to Europe via Ukraine and severe cold weather. After that, the leader of the British Heritage Party David Curtin called for launching one of the remaining pipelines of Nord Stream-2 and buying Russian gas again.