I can't wait to see how the "We're going to cap Russian energy prices" thing works out. How can you cap something on the world market that you don't sell? India and China (and others) will just buy it.
Europe's energy crisis needs immediate action or else the economy will come to a 'full stop,' says Belgian Prime Minister https://finance.yahoo.com/news/euro...s-immediate-144221654.html?fr=sycsrp_catchall
Just one of many differing views. Let the viewers decide. Goldman Sees European Gas Prices Dropping Sharply Investing.com -- European natural gas prices are set to fall by more than half over the next six months, as the continent successfully negotiates a winter without Russian gas, according to analysts at Goldman Sachs. Goldman analysts told clients in a note that they expect benchmark prices for northwest Europe to fall "sequentially" to around 100 euros a megawatt-hour in the first quarter of next year, on the assumption of average winter temperatures. The forward curve currently projects prices still around 200 EUR/MWh, while the price for delivery in October is around 192 EUR/MWh. Their forecasts rest on the view that Europe has essentially done the hard work already in preparing itself for the peak demand season, filling storage faster than usual with aggressive purchases on the global market for liquefied natural gas to replace the imports that are no longer coming through Russian pipelines. In addition, they note, the acutely high prices seen on the spot market this summer have already led to substantial demand reduction, notably from industrial clients. "As we go through winter, we expect the high storage levels at the start of the season to accommodate larger-than-average storage withdrawals," the analysts said, adding that they expect the EU's storage facilities still to be 20% full at the end of March. As a result, they argued, a "sense of market relief for having made it through winter" will take over from the current "sense of urgency to destroy demand." https://www.investing.com/news/comm...154?dicbo=v2-9cd76e46828f63433176420f8d6f56fd
Europe's winter energy supply crisis 'solved', German Chancellor Scholz says German Chancellor Olaf Scholz tells Chuck Todd on "Meet the Press NOW" that Europe’s winter energy supply is “solved,” despite the ongoing war in Ukraine.