Soaring gas prices continue during the winter, and the exhaustion of supply could force British industry to “close”, the founder of manufacturing giant Ineos warns.
Sir Jim Ratcliffe said lack of gas storage left the country vulnerable and warned the government that a sharp winter could lead to widespread closures as demand exceeds supply. bottom.
Appeared on ITV PestonThe industrialist was asked if he could shut down the country because of a protracted cold spell, he replied: “Yes, then you would shut down the industry.”
Sir Jim added: Our gas demand increases in winter. “
It comes as prime minister Rishi Sunak Controlling prices seemed to reduce the level of support the government could provide in response to rising gas costs, saying it was “not a government job.”
“We are ready to work with businesses and assist them when needed,” Snack said in a speech in Washington after attending the G7 Finance Ministers.
The Prime Minister added: “But it’s so helpful in this country that I generally believe in a market economy. It’s not the government’s job to get in and start controlling the prices of all the individual products.”
According to Snack, Sunak will apply rigorous “cost performance” tests to all financial support provided to the steel sector and other key energy users. Financial Times..
Encouraging the government to provide short-term subsidies, major makers such as steel and chemical makers warned that factories could have to be closed this winter if energy levels remain high.
Energy experts also warned that a harsh winter could force Britain to limit its energy supply – reverting to a three-day week in the 1970s to close its factories.
Sir Jim urged the snacks to provide sufficient support to “make sure the British economy is not required to pay a ransom because it is not well organized in the gas situation.”
According to the founders of Ineos, the UK has a 10-day storage period, and given that continental countries have four to five times that amount, this number is “for countries as important as Britain. Is a little pathetic. “
“Four years ago, remember, when Beast from the East was, it was less than a day or two after the UK was out of gas,” said Sir Jim.
“If we had run out of gas, it would have been a disaster for the elderly who would not have been able to get heating in the house, and for the industry that would have had to shut down. But we were within a few days, and we pointed out that point. “
Labor leader Sir Kiel Starmer said the government should “get out of hiding” and work with businesses on the issue. “They are absent. The UK is sitting with surprising satisfaction while other countries step up and act.”
The Department for Business, Energy and Industry Strategy (BEIS) said ministers and officials are involved in the industry “to help better understand and mitigate the effects of high gas prices around the world.”
Snacks, meanwhile, claimed that “a significant amount of Christmas gifts will be available” this year, despite the ongoing supply chain crisis.
Due to the accumulation of cargo at Felixstowe, the shipping company Maersk chose to divert the ship from the port of Suffolk, but similar log jams were found elsewhere in the world, including the United States.
“We are absolutely doing everything we can to mitigate some of these challenges,” Sunak said. “We can’t solve every problem because they are global in nature, but we are confident that we will provide the right products for everyone.”
The government warned that British industry could “shut down” from a gas shortage this winter
Source link The government warned that British industry could “shut down” from a gas shortage this winter