Comments by "Paul Aiello" (@paul1979uk2000) on "The G7 Price Cap is Working Surprisingly Well" video.

  1. I think Putin himself made it clear that a price cap would work when he made a song and dance about it at the start of it, after all, if it wasn't going to work, why would he complain so much about it? Truth is, the G7 is by far the biggest buyers, getting on the wrong side of those countries isn't in the interest of the fossil industry, even if they control the tap and it's becoming less in their interest as countries are pushing ahead to alternative energy sources at a faster rate, the last thing those countries that control fossil fuels can afford to do is play games with the price and energy security as that will kill those industries a lot sooner than it normally would happen. Simply put, it's in the interest of the fossil industry to stabilize the energy market and bring down energy cost, the higher the price is and the less stable the energy market is, the quicker countries are going to move to alternatives and it might already be too late because even with low prices, it looks like a lot of countries are going full steam ahead with renewables, Putin has opened up a can of worms by invading Ukraine and given the world a major wake-up call to get our act together. Also another reason why it works, Russia being forced to sell at a lower price and to less customers means countries that do buy from Russia have more leverage to squeeze Russia more to bring the price even lower, the likes of China and India knows Russia is desperate to sell to anyone that will buy and these countries are more than happy to take advantage of that and the lesson Putin should be learning, China isn't Russia's friend, they see this as an opening to take advantage of Russia and if Russia becomes more isolated, China might end up getting Russia under the thumb.
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