Huntsman Slams UK Net Zero Policy as "Abject Failure," Warns of Chemical Plant Closures

Billionaire Peter Huntsman launched a withering critique of Britain's energy policy, calling the pursuit of net zero an "abject failure" and warning that UK manufacturers are shutting down or relocating due to uncompetitive energy costs. His company's Wilton chemicals plant on Teesside—the last of its kind in the UK—faces potential closure, with ~100 jobs at risk, as it is currently losing money after a brief period of breaking even during summer 2026. Huntsman, whose company agreed to a $12.5 billion all-stock merger with Olin in June 2026, warned in March that Wilton could close if gas prices remained elevated. The plant produces aniline, a chemical used in car seats and aircraft components. He is in negotiations with the Department for Business over support from the £350 million Critical Chemicals Resilience Fund, created in May, but said he remains "confused" about qualification criteria. His criticism echoes Ineos Chairman Jim Ratcliffe, who last week mothballed three chemical plants in Hull, citing gas prices up to 12 times higher than US rivals. Huntsman said UK manufacturers are asking "how do I get out?" rather than "where can I invest?"