Comments by "" (@thomasherrin6798) on "The Russian Oil Price Cap Explained" video.

  1. OPEC (..and OPEC+) is a hostile energy cartel, with only the producers interest at heart. Russia's war in Ukraine has triggered an energy crisis in Europe as Russia tried to blackmail Europe from applying sanctions which has been a spectacular backfire as Europe will not buy energy from Russia in the foreseeable future. Obviously this has caused Europe problems in the short term while they make alternative arrangements, but by 2023 this problem will be mostly mitigated, but energy will cost 5 to 10% more overall. By 2035 Europe will be mostly powered by renewables and New Nuclear (Germany are dragging their feet on New Nuclear so they might go down the renewables route but this does not sustain heavy industry) when carbon will take a back seat in that continent. The price cap should work or the spectre of secondary sanctions will be pushed forward to the price cap breakers, so it is only in Russia's interest not to have a price cap (Some OPEC countries buy Russia Crude, refine it and sell it as their quota, so they are earning extra revenue that way)!?!
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