Chemical giant Ineos: Too little, too late!

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“Too little, too late. ”The European chemical giant Ineos issued a statement expressing its deep disappointment that the EU’s \"European Chemical Industry Action Plan\" fails to address the urgent issues faced by the industry. 　　In recent years, the chemical industry in the EU has faced severe challenges such as high energy costs, insufficient global competitiveness, and weak demand. To this end, the European Commission announced an Action Plan for the Chemical Industry on July 8, aiming to enhance the competitiveness of the EU’s chemical industry and drive its modernization through measures such as simplifying EU legislation regarding key chemicals, establishing a coalition for key chemicals, and strengthening the governance and financial sustainability of the European Chemicals Agency. 　　Innenos said in a statement on July 15, “The Chemical Industry Action Plan does too little and too late.” It fails to address the real problems... Europeans talk a lot but do little, and that’s why investment, innovation, and job opportunities are packing their bags and heading elsewhere. ” 　　Ineos stated that the plan fails to address the two most pressing threats to the survival of the European chemical industry: high natural gas costs and rising carbon emission costs. “If urgent and bold action is not taken in these two areas, Europe’s competitiveness will continue to decline. ” 　　“Our plant in Cologne is one of the most advanced integrated petrochemical facilities in Europe. Compared to the United States, our natural gas bills are 100 million euros higher, and our electricity bills are 40 million euros higher; moreover, the cost of carbon emissions is approaching 100 million euros per year. ”InBev gave the example that, just in its first year of operation in Europe, it had to pay an additional 240 million euros. 　　Over the past two years, more than 20 chemical plants across the European continent have closed. Investments and job opportunities are shifting to regions where energy is cheaper, there is no carbon tax, and industrial policies support long-term development. Ineos warned: “If this situation continues, Europe will face accelerated deindustrialization, a loss of its skill base, weakened supply chains, and job opportunities moving abroad.” ” 　　Ineos emphasizes that what Europe needs is not just ambition, but also action. If the chemical industry is truly to be preserved in Europe, natural gas prices must be reduced immediately, and the carbon tax must be abolished.