Re: EU approves mandatory energy savings and cap on company revenues (edited)
Naam, the same applies to oil. The EU embargo will cause some Russian shut ins..and world wide shortages. Then any idea of oil price caps will not work.
The SPR's will be drained, OPEC+ is now tapped out. Next week they may cut at Russia' request. Will any spare capacity thus created come back on line? A few hundred thousand barrels at best. Is $100 the floor? We may find out next week.
If Denmark and Sweden block exports from the Baltic(ship pilots are sanctioned), the market will be really tight. Poland and Germany may also lose all pipeline oil from Russia....Russia has said it will refuse to sell to any price cap...
No Russian gas, and possibly no Russian oil to Europe. What a train wreck!