The recent conflict at the Scottish oil refinery shows who holds the whip hand under capitalism.
Grangemouth oil refinery and petrochemicals plant on a 1,700-acre estate on the Firth of Forth 25 miles from Edinburgh is owned by INEOS, the world's fourth largest chemicals conglomerate, and also the largest privately owned company in Britain. The Grangemouth plant is Scotland's only oil refinery providing 85 percent of Scotland's petrol, processing about 200,000 barrels of oil per day, it also powers the Forties pipeline which supplies a third of Britain's North Sea oil. INEOS, launched in 1998 is owned by its management, headed by chairman and chemicals industry veteran Jim Ratcliffe, and now has a turnover of $43 billion (£27 billion). PetroChina bought a stake in Grangemouth in 2011 in a deal that was meant to secure its future.