Jim Ratcliffe Endorses Conservative Plan to Eliminate Net Zero Taxes
Sir Jim Ratcliffe supports Conservative proposals to abolish carbon taxes, aiming to reduce energy costs for consumers and businesses. This initiative, which has backing from major industrial firms, could significantly alter the UK's energy landscape and its competitive position within Europe.
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Sir Jim Ratcliffe has endorsed Conservative plans to eliminate carbon taxes, which would reduce energy bills for households and businesses. The proposals would exempt industrial firms from purchasing carbon credits under the Emissions Trading Scheme (ETS), resulting in a potential one-third reduction in gas-fired power generation costs.
Major companies, including ExxonMobil and Huntsman Corporation, support these changes, arguing they would enhance competitiveness against international counterparts. However, the initiative may face backlash from climate advocates and conflict with EU regulations, particularly regarding the forthcoming carbon border mechanism.
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