ExxonMobil is closing its Mossmoran chemical plant in Scotland. The reason is competition from ethylene exports from the US that are exempt from carbon tariffs.
Yes, local production has to pay a tax that foreign sources do not. In much the same way British farmers have to contend with ever more regulations and hence costs such as animal welfare standards that overseas farmers do not have to deal with.
This is exactly the craziness that stifles growth that the country needs if the economy is not going to end up in a doom loop, but with hands tied behind backs the investment will never materialise. This is classic cost of government crisis.
With the Energy Profit Levy and various other taxes north sea oil producers pay a total tax rate if 78%, so no wonder investment in British waters has collapsed. Once again helping strangle local production that will simply be taken over by imports. Britain is not the only country doing this. Over in Ireland they banned all new oil and gas exploration with the ultimate goal that Ireland does not produce any. Pure virtual-signalling as all it means is importing oil and gas instead as Ireland is not going to stop consuming these things any time soon. Irish electricity production is circa 65% gas when the wind does not blow.