A Son of the Rock

While it is welcome that INEOS has reversed its decision to close the petrochemical works at Grangemouth and that the threat to the oil refinery’s future and to jobs has been lifted I wonder how long for.

It seems likely that INEOS really wanted to close the plant and has only relented because both the UK and Scottish governments pressed hard for this and UNITE, the union, has accepted all their conditions – in effect allowing the management to do whatever it likes in future. So what are these jobs worth now?

Whether the commitment of INEOS to a presence in Grangemouth will survive beyond the short term is seriously in question.

I suspect that once the monies contributed by the taxpayer to the investment apparently required has been spent they will up sticks anyway.

Whatever, I expect total employment in the Grangemouth complex to be substantially lower in five to ten years time. If, that is, there is any at all.

In the wider context it is profoundly worrying that necessities of modern life such as energy provision and oil refining are in the hands of companies not domiciled in the UK. The irony is that especially in the energy sector past UK governments insisted that state provision of energy was not to be encouraged – indeed it was to be frowned upon and eradicated – yet a large part of the energy supply industry in the UK is now in the hands of state-owned companies. Unfortunately, however, not owned by the UK state.