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EU Summit: No Agreement on Gas Price Cap

  • #Ukraine
  • #Prices
  • #Russia
  • #Germany
  • #World
  • #Europe
  • #Energy
  • #Finance
  • #Oil & gasoline
  • #Greece
  • #Poland
  • #Romania
story
OCT 2022
Image copyright: Reuters [via Al Jazeera]
story last updated OCT 2022

The Spin

Narrative A

Though experts are still struggling to analyze the impacts of a price cap given the varying schemes and provisions that have yet to be decided, the EU must agree on a cap. The critical problem, however, is that there is a shortage of energy, and time is running out before cold weather sets in. Something needs to be done.

Natural Gas Intelligence

Narrative B

A price cap on gas is expensive, and subsidizing even a slice of Europe's current gas consumption would cost hundreds of billions of euros, which could leave the EU drowning in debt. Another problem is if the EU sets the price cap too low, global suppliers who can afford to sell elsewhere will do so, likely resulting in a bloc-wide shortage.

Politico

Metaculus Prediction


Articles on this story

EU faces battle to keep energy prices from tanking struggling economy
PBS NewsHourJUL 2022
The European Union faces a battle to keep energy prices from harming its economy
NPR Online NewsJUL 2022
EU faces battle to keep energy prices from tanking economy
FOX NewsJUL 2022
EU faces battle to keep energy prices from tanking economy
IndependentJUL 2022