Price Cap For Russian Oil – G20 Goes LaLa-Land

Creative Destructive Media ^ | September 5, 2022 | Christian Geib

[SoConPubbie]

Dear G20 / WEF-approved “elites” – word from the wise: the reality distortion field only worked for Steve Jobs. Elizabeth Holmes learned that the hard way.

What is the reality distortion field power that our “elites” seem to think that they master? It is the belief that if you want something hard enough and shout enough at the problem it somehow bends to your will. In Steve Jobs’ case it worked as a) he was a genius and b) he “merely” pushed the envelope of what was thought possible in the realm of design and marketing but did not try to bend gravity or the law of thermodynamics to his will.

Our current elites are not geniuses. And, unlike Steve Jobs, they think they can take on the laws of physics and reality in general, if they shout hard enough at the sky.

The most recent example would be the price-cap for Russian oil and gas that the G20 is musing about. Scared by skyrocketing energy prices caused by the unnecessary war in Ukraine and wishful renewable energy thinking? Let’s just agree to not pay Russia more than x-amount. Let’s be an OPEC of oil consumers. Genius, why hasn’t anybody thought of that before?

Well, maybe because previous elites understood power dynamics, principles of negotiation (e.g. knowing the difference between a buyers’ and a sellers’ market). To be fair to our non-genius elites, at least they are being consistent:

You cause inflation by printing funny money and shutting down large parts of the economy – no problem, blame those greedy businesses for raising the prices. You invite the whole world to come to Germany and the UK, and experience soaring property prices? No problem, blame those greedy landlords, put price caps on them, too – and then be baffled if few people are motivated to rent out or build houses. You announce to your farmers you are going to take 30% of their land from them, prices go up and you blame those greedy grocery stores and – you are correct – put in place price caps.

Then again, what’s controlling prices if you already think you can engineer the earth’s future climate in a 100 years to the 1 Celsius degree, those volcanoes be damned. 

All this climate “saving”, agriculture restarting, inflation fighting, pandemic curing, nation building (hey, Afghanistan, Iraq, Syria, Libya how are you doing? Are those rainbow flags still flying?) whilst trying to win a war against Russia – no task too big, when reality can simply be ignored.

Thankfully, there is this magic money tree , we can do it all n o painful choices, no canons or butter decisions anymore. I am wondering when the G20 will officially solve recession or inflation by simply banning those. Imagine the headline – “G20 outlaws inflation, recession…and earthquakes”. 

Whilst we are at it, in order to save the UK’s struggling socialized National Health Service (NHS) why don’t we just ban getting ill? We were already half there when we sort of banned treatment for everything else but Covid back in 2019. Many general practitioners still haven’t returned to face-to-face consultations. They seem to enjoy doing video examinations from their holiday homes in the Cotswolds or Provence.

It’s time that we have some adults returning to our decision-making institutions with a healthy acceptance and appreciation of reality.

But until such time the current elites, especially in their unaccountable adult nursery safe spaces such as the WEF, G20, EU and the universities will no doubt double down on their megalomaniac ostrich strategy of ignoring reality.

[House Atreides]

At my local grocery store I demanded to pay only $1.50 for a case of Diet Coca Cola. Those fools refused to sell it to me at that price. /s

[ProtectOurFreedom]

I told my local Exxon station owner (in my best authoritative baritone voice) that I have my own personal price cap of $3/gallon and that he better agree to it. I gave him a very stern look and he immediately caved saying “OK, you win.” I got my gas at $3 while all the suckers around me were paying $6.

So the EU is quite smart to set that price cap.

[JonPreston]

The price cap on Russian oil will not work, it will exacerbate the shortage in Europe. India and China will work around the cap while making hefty profits. Absolutely everything leftists do economically, socially and in terms of policy, backfire. Europeans will be very cold this winter.

[JonPreston]

LOL!

[hardspunned]

Where’s the “S” tag?

[Always A Marine]

We are witnessing the suicide of the West. It is going to get very, very ugly.

[Kazan]

Our current elites are not geniuses.

That's understatement. But, plenty here that parrot all of their claims about this proxy and sanction war.

[UNGN]

Exactly. Putin can refuse to sell the oil for the cheap price.

Why doesn’t he?

[Grampa Dave]

I suspect the COVID fiasco convinced a lot of people in the 55+ age cohort to simply retire rather than deal with the idiocy imposed on them by government and corporate leaders. #20 posted on 9/5/2022, 12:47:44 PM by Alberta's Child

EU = More Really Good timing with their idiots in charge!

”

Travis McGee, Thanks for posting the above economic reality for the ETU, Euro Trashy Union versus Russia. Also, a reality lesson versus Harvard/Yale B$ and our MMS B$ers.

Oktoberfest may be AXED due to Putin gas crisis, and Bavarian breweries told to stop making BEER as it's revealed Germans must pay £1,000-a-year 'gas surcharge' ON TOP of bills and Hanover turns off hot water!

UK Daily Mail ^ | July 29, 2022 | Chris Pleasance

Posted on 7/29/2022, 9:01:31 AM by C19fan

Germany could be forced to scrap Oktoberfest celebrations and its famous Christmas markets as officials desperately search for ways to save energy after Russia began throttling gas supplies to Europe.

Hanover, yesterday became the first major city on the continent to announce it will turn off all hot water in public buildings to conserve energy, while Berlin has begun dimming streetlights and Augsburg has turned off public water fountains.

Although Europe is scrambling to get energy from elsewhere, any difficulties this winter could be a harbinger of worse to come if Russian gas supplies are completely severed and stay off through 2023, said France’s minister overseeing energy, Agnès Pannier-Runacher.

"If gas deliveries are cut by the end of the year, that will mean we’ll have a full year without Russian gas, so the following winter could be even harder," Pannier-Runacher told French senators.

[ProtectOurFreedom]

Darn, I forgot it! Do you think I need it for the satirically challenged?

[Thunder90]

G7, not G20. BRICS doesn’t care about a cap from the West. So doesn’t Iran and Venezuela, who would also be subject to the same cap.

[AndyJackson]

Take it from those of us who are battle scarred, you fly without the Sarcasm banner at your own peril.

[mikey_hates_everything]

They just don”t learn. Tried that in ‘79 and what happened? Gas lines and odd-even day rationing.

[Chode]

i am truly in AWE!!! we who still pay full price salute your sir...

[canuck_conservative]

Putin can refuse to sell the oil for the cheap price

NOTE that the EU has already announced that after Dec. 5th, there will be no more imports of Russian oil to Europe

[canuck_conservative]

Putin can refuse to sell the oil for the cheap price

NOTE that the EU has already announced that after Dec. 5th, there will be no more imports of Russian oil to Europe

[Paul R.]

He already has refused.

But, that does leave him with a problem: There’s not enough transport to get over about half of his gas that used to go to Europe, anywhere else. As long as prices stay sky high, that’s ok for him - revenue is a function of volume and price. But, high prices will encourage new energy production elsewhere and that will gradually drive down prices (note that Pooty already has to give discounts to China and India, and also note Dutch TTF (futures) are already generally trending down.) Once the energy markets level out or (including Russian production) swing into oversupply, Pooty is in deep doo-doo.

That doesn’t mean I agree with the energy sanctions on Russia. The proper course would be to simply do everything possible to increase supply. No sanctions needed, in the long run.

[Keyhopper]

First they be green
Them comes the white stuff
Them they’ll be blue

[UNGN]

I’ve heard the Theory put out there that if Russia doesn’t keep their pipelines from the Gas wells flowing all winter, they can freeze and won’t be usable until next June.

If feeder pipelines freeze, and volume dromps, the main pipeline could freeze.

The same thing will happen to the Transalaska pipleline sometime in the Future, unless they can drill on new ground (the volume flow is too low/slow), but the Alaska pipeline is only 1/4 as long as the Russian ones.

Putin can’t shut the flow off, and can’t slow it down much, or run the risk of screwing himself.

This was just what some energy guy was saying, don’t know how true it actually is, but the Trans Alaska pipeline case is real.