The founder of chemicals giant Ineos says shale offers Britain cheaper energy and insists it could reinvigorate his native north country
‘One thing I’m sure about,” says Jim Ratcliffe, billionaire founder of chemicals giant Ineos. “You can’t have an energy policy that means you can only have a bath when the wind blows.”
The Manchester-born industrialist points to figures, based on National Grid statistics, breaking down the composition of the UK’s energy supply. It shows nearly half of Britain’s electricity on the day in question being generated from gas, with around 20% from coal and 20% from nuclear. Despite subsidies and major investment in wind farms, only around 1.4% of the day’s electricity is generated from that source.
Source: Guardian Environment