

                                                               Exhibit 23.3


                      CONSENT OF INDEPENDENT AUDITORS

We consent to the incorporation by reference in the Registration  Statement
(Form S-8 No.  333-54766)  pertaining  to the Amended and Restated  Ashland
Inc. Incentive Plan, in the Registration  Statement (Form S-8 No. 33-52125)
pertaining to the Ashland Inc.  Deferred  Compensation  and Stock Incentive
Plan for Non-Employee  Directors,  in the Registration  Statement (Form S-8
No.  2-95022)  pertaining to the Ashland Inc.  Amended Stock Incentive Plan
for Key Employees,  in the  Registration  Statement (Form S-8 No. 33-32612)
pertaining to the Ashland Inc.  Employee  Savings Plan, in the Registration
Statement (Form S-8 No. 33-26101)  pertaining to the Ashland Inc. Long-Term
Incentive  Plan,  in the  Registration  Statement  (Form S-8 No.  33-55922)
pertaining  to  the  Ashland  Inc.  1993  Stock   Incentive  Plan,  in  the
Registration  Statement (Form S-8 No.  33-49907)  pertaining to the Ashland
Inc. Leveraged Employee Stock Ownership Plan, in the Registration Statement
(Form  S-8  No.   33-62901)   pertaining  to  the  Ashland  Inc.   Deferred
Compensation  Plan, in the Registration  Statement (Form S-8 No. 333-33617)
pertaining  to  the  Ashland  Inc.  1997  Stock   Incentive  Plan,  in  the
Registration   Statement  (Form  S-3  No.  333-78675)   pertaining  to  the
registration  of  68,925  shares  of  Ashland  Inc.  Common  Stock,  in the
Registration   Statement  (Form  S-3  No.  333-36842)   pertaining  to  the
registration  of 96,600  shares of Ashland Inc.  Common  Stock,  and in the
Registration  Statement (Form S-3 No. 333-70651) pertaining to the offering
of $600,000,000 of Debt  Securities,  Preferred Stock,  Depository  Shares,
Common Stock and/or  Warrants of Ashland  Inc., of our report dated January
24, 2001,  with respect to the  consolidated  financial  statements of Arch
Coal,  Inc.  as of December  31,  2000 and 1999,  and for each of the three
years in the period ended December 31, 2000,  included in the Annual Report
on Form 10-K (as amended by Form  10-K/A,  Amendment  No.1) of Ashland Inc.
for the year ended September 30, 2000.

Our audits of the consolidated  financial  statements of Arch Coal, Inc. as
of  December  31,  2000 and 1999,  and for each of the  three  years in the
period ended December 31, 2000, also included the Arch Coal, Inc. financial
statement  schedule  included in the Annual Report on Form 10-K (as amended
by Form  10-K/A,  Amendment  No.  1) of  Ashland  Inc.  for the year  ended
September  30,  2000.  This  schedule is the  responsibility  of Arch Coal,
Inc.'s management. Our responsibility is to express an opinion based on our
audits. In our opinion,  the financial statement schedule,  when considered
in relation to the Arch Coal,  Inc. basic financial  statements  taken as a
whole,  presents fairly in all material  respects the information set forth
therein.



                                        /s/ Ernst & Young LLP

St. Louis, Missouri
March 28, 2001
[/R]

