EU price cap will not ‘Save Europeans’ … it will con them!

Of late, The western world seems to have a solution for all its problems in two words. Price cap. Earlier, it was about capping the prices of Russian oil. G7 countries and all of Europe came to agree on a price cap on Russian oil which was meant to cut down Russia’s increasing revenues from energy exports. This time the price cap introduced is within Europe, by the European Union, on benchmark gas prices. The goal is to prevent the price hike that ailed Europe this year, and to shield Europeans from high energy prices in 2023. So what is this new price cap plan? What makes Europe seek out such a policy? And will it be effective?

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