Ineos halts three UK chemical sites, endangering thousands of jobs over soaring gas costs

Ineos has temporarily closed three of its biggest chemical complexes in Humberside, jeopardising roughly 4,000 skilled jobs that support a wide array of industries, including pharmaceuticals, textiles, cosmetics, detergents, construction materials and military explosives. Jim Ratcliffe, the company's owner, said the decision was forced by gas prices in the UK that are twelve times the level in the United States and eight times that of China, rendering the plants uncompetitive despite their efficiency.

He argued that the high energy costs not only threaten local employment but also raise global carbon emissions, as replacement products would need to be shipped from the US and China with far higher emissions. Ratcliffe accused the UK government's energy policy of causing "economic vandalism" by driving jobs overseas and increasing CO2 output. The move highlights the broader impact of energy pricing on the nation's industrial sector and its environmental footprint. The story is still developing.