Reopening them would be a better remedy than price controls.
I was working in a grocery store when Nixon imposed price controls. Shortages indeed.
“I was working in a grocery store when Nixon imposed price controls. Shortages indeed.”
In the 1970s we had multi-hour GAS LINES due to price controls on gasoline. Carter and then Reagan removed all price controls in the early 1980s. That was 40 years ago. Since then we have NEVER had gas lines again.
Put price controls on electricity, you will, FOR CERTAIN, have shortages as demand will always exceed supply when prices are artificially constrained. That means BLACKOUTS.
If Europe wants to do something, perhaps give every household $3,000. That would cover much of the added power bills due to ‘punishing’ Putin.
But by giving them cash, they wouldn’t have to spend it on electricity as the high price of power would still discourage that spending, so they’ll still get some reduction in demand.
Or just call up Moscow and ask them how soon US troops have to leave Europe in order for Russia to resume energy deliveries there.