Ineos boss Sir Jim Ratcliffe has hit out at what he sees as the UK’s “total lack” of an energy policy, which he branded “completely irresponsible”.
The FPS moves 40% of the UK’s oil from the North Sea through to Grangemouth, where it is processed for distribution throughout the UK. Sir Jim argued the “worrying” decline puts UK consumers “at the mercy” of foreign producers and is causing huge volatility in energy prices, pushing ever increasing numbers of people into fuel poverty.
“The UK is doing the opposite and seems intent on rapidly destroying North Sea production through a mixture of negative comments and punitive windfall taxes.”
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