Here's your summary from Billionaire Jim Ratcliffe Slams Europe’s Chemical Industry (https://www.youtube.com/watch?v=H03TS3JajH8) on the Bloomberg Television channel:
**TLDR:** Billionaire Jim Ratcliffe criticizes Europe's chemical industry for its decline and lack of competitiveness compared to the US.
1. The UK's chemical industry is almost non-existent, with energy costs and carbon taxes making Europe less competitive than the US.
2. Manufacturing in the UK has significantly declined over the past 25-30 years, with a lack of government focus on maintaining a healthy manufacturing base.
3. INEOS, a major chemical company, has seen a shift in profits from Europe to the US due to the more competitive environment in the US for chemicals and petrochemicals.
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