EU ministers fail to agree on gas price cap | DW News

EU ministers meeting in Brussels on Tuesday delayed the final decision on a proposed cap on natural gas prices to next week, despite the urgency of the issue. The European Commission proposed the price cap last month following the economic upheaval caused by Russia reducing gas supplies to Europe, hiking up energy prices.

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[editorrbr]

“Please don’t do this thing that we publicly have said is a good thing to do.”

That’s basically all you need to know about Germany’s governance under Olaf.

[bradhombre]

Carol doesn’t seem to understand that the whole point of the price cap is to be a sanction on Russia.

[Milinclaire]

As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be — and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.

[duncansmith]

so the oil price cap is a really good idea, Germany says, but Germany also says the gas price cap is a really bad idea. Current thinking in the EU

[chaosland]

The EU: We'll ban Russian oil. We'll stop buying Russian oil.
The same EU : we need to buy more oil from Russia but Russia is selling oil at a higher price. We should put a price cap on Russian oil.
Also the same EU : Russia is using oil as a weapon.

[JustSomeTommy]

Lol! Yeah let's trust a ceo of an energy company on this... 😂

[Alex-pjnz]

Because Russia will just ban has shipments to those nation that introduce the price ceiling.

[singularity-]

Why don't the whole EU just stop using Russia Gas!

Don't like it STOP BUYING!

[far_centrist]

The financial times reported that the EU imports of russian LNG have jumped to 140% after finding out that the US LNG cost 6 times the normal price. Putting a cap on a commodity you need is a good way to cut off supplies completely.

[biggyibukun]

Funny people, they want to price cap what they don't have and sale🤣🤣🤣🤣

[comrade]

Price Capping what you don't have 🤣🤣

[Mrac-zzvh]

Ukrain is a good example for what will happen if a gas price cap is applied.
Ukrain does not buy Russian gas since before the war. Russia on paper sells an amount of gas to someone else who buys Russian gas, than this middleman sells that amount of gas to Uraine with a profit..also on paper. Than the actual gas molecules are pumped from Russia to Ukraine on the same pipeline as before. The only difference is that it is more expensive.
In practice someone will buy Russian pipeline gas or russian LNG on paper ..most likely India, China or Quatar than sell it to Europe with a profit. The price for Europe will be similar to US LNG prices (mad expensive).
The only thing that can put a real cap on Russian gas prices would be US and Qatari gas price caps. And that will never happen. Because mad high gas price means mad profits to energy rich countries like the US, Qatar and Russia.

[Leptospirosi]

CEO of "Crystal Energies": I guess she has no interest in energy prices going up! 🤣🤣🤣🤣😂😂😳

[floridaray]

Is the EU going to fall back to its old days and start to eat each other like pre-WW2

[jaaksavat]

The Netherlands just repeat Shell rhetoric, which also opposes a price cap on gas in Australia, who's major producer/exporter of gas.
Only the state of Western Australia demanded 15% of produced gas for for domestic consumption. Big oil don't believe they have to do their part in helping the Ukrainian people, just like we all do.
Greed is evil

[thegreatdane]

a 275 euro pricecap is pretty pointless anyway.

[BIPDSHAWAII]

The buyer doesn't set the price for a product that is in high demand. The seller does. WTF are they wasting their enei for? No play, no play.

[Baddy]

Economics tells us that capping a price will result in less of the good being produced, what (among other things) will raise the costs of the product. I cannot see it work.

[roderickmuller]

That's right if you refuse to buy something beyond certain prices the seller just need to look for another buyer

[peterzimmerman]

I don't know how they are doing it, but they should be buying as one customer and then resell as it's distributed. If they are buying.