Ineos is entering a partnership with Chinese Chemical Company for the Refinery in Falkirk.
The Refinery & Chemical plants have been around for about 100 years - originally processing shale from local mines to yield oil.
BP owned the site until a few years ago and sold out to Ineos - Ineos however is stretched and reputedly owes/owed the banks some £5 or £6 Billion from their aggressive acquisitions prior to the recession. Esso/BP/Shell/Tesco + others all pull petrol from here for sale throughout Scotland.
Reports are there will be investment on a big scale - makes a change as for years it has been patch and mend with no big £££s being spent - repairs can cost millions in refineries Upgrades and new plant costs hundreds of millions.
For example Shell @ Bacton Gas Plant (East Anglia) is spending £400m on a new plant to clean/process North Sea Gas and it is a minnow sized plant next to the Ineos site.
Cheaper petrol / diesel? I think not.
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....and infiltration of strategic industries....?
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The Chinese are aware, more so than any other country or state, that the key to sustainable, stable, economic and political survival is control of, or access to dwindling raw materials and fuel.
This is being played out in acquisitions of and financial control (the west & Australia) Bribery, corruption or military aid (Africa and the middle east) and Military power and control (far east)
In the far east, the Chinese aim is to protect home borders with a very large control zone and buffer and by claiming all the natural resources within. To this end they are building up a large and advanced navy and airforce to project power.
Japan and South Korea are their buffers. Its a clever game, those countries will be used as a protective shield/hostage/blackmail.
For a country like ours? how to compete? Dont - ride with it. Hasn't done the Swiss any harm for centuries.
Last edited by: Zero on Mon 10 Jan 11 at 15:01
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Except the Swiss keep a stable population through lack of mass immigration and lack of affordability to live there, had no empire to service or be serviced by and therefore no historic connections to maintain. People come to Switzerland for assistance , not the other way around and it is on Swiss terms that assistance is given.
Also, Swiss dominance in financial matters may end soon as it has to reveal details of all those 'secret' bank accounts or face sanctions from the US and EU.
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Sorry you took me a little too literally,.
I meant, one should maintain a true global non partisan approach,
Oh and we dont have any empire to service either.
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No but we had one and are still paying the price.
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The Chinese are coming - ownership of Refinery - R.P.
