Gal Luft of the Institute for the Analysis of Global Security Capacity says the proposal of putting price cap on Russians will backfire.
It’s a ‘ridiculous’ idea to suggest putting price cap on Russian oil: Expert
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This guy is more knowledgable on markets than Yellen for sure!!!
true but she has insider trading to fall back on
Don’t forget that russia still has grain to hit back at the west when cornered. Russia can also block ukraine graine. Can the west put a price cap on grain? In the end, the US only make the world suffers more. The west should stop using sanctions and use diplomacy to negotiate.
Russia will rather not sell their oil than to sell it Cheap to enemies. I mean it’s one thing to sell it to India or China but to the West? No way
It’s simple economics. Sell to those wanting to cap you at a very reduced price in what they will pay, or sell to friendly nations who are accepting your price reduction but not the price cap the others are proposing? Ie. Per barrel price : $97 on open market. Russia’s reduced price : $85. Price cap : $60. The West thinks way too much of themselves. This will destabilize the energy market and at minimum accelerate the removal of the rule of the petrodollar.
The western leaders need to make themselves look like they are working to solve the problem. I mean look at Biden’s visit to Saudi to ask them to ramp up their oil production while the cash is flooding them at crazy rate due to high price of oil. They need to show to their voters that they “cared” and “tried” their best when things gone south.
A totally stupid idea but Yellen has to promote it even though she know it’s totally stupid. But the western propaganda machine is also trying to sell this as a good idea that can work.
Nah, it’s just a few politicians and Russia is currently getting nothing for their oil from the west, so there’s that too.
Excellent idea. Let’s put price cap on everything. Rents, house prices, food… Politicians are emitting noble price level ideas form USSR. 🤣🤣🤣
Theyre clowns and theyre failing on every count
@Jim Spencer Ah, but who elected the dimbulbs?
@boomer166 Ah, as if. Today, it’s questionable. Opposition gets raided, and a lot of falls from hospital windows, you couldn’t make it up
Sanction cap=No gaz or oil from Russia = No cap price= price increase more and more
How this people thinking 🤔?
@boomer166 You did yer bloody lefty
Biden believes that the ceiling on oil prices from Russia will help reduce the cost of fuel in the United States !!???
Tell the degenerate who hates his fellow citizens of the United States that neither Saudi Arabia nor Russia will extract oil at a loss..This cretin himself refused Russian gasoline, fuel oil, and other petrochemicals. From fertilizers, from everything Russian..Now this living corpse will reap the fruits of its idiocy…And stupid greed.
Russia is currently getting nothing from the west for their oil. So it’s likely to have no effect.
They sell it to friendly countries, who then make a profit by selling it to EU. That’s how you take care of your friends.
@Anne Brit Raaen and also the West is so small compared to the whole world who stayed neutral or supported Russia
this kind of price cap and trying to squeeze Russia will reduce the few countries to ashes.who is these countries to say how much you receive for your goods you produce.ppl the last war is coming no one will survive it this unbridled greed and western power run is over the time of pillage and war on countries is over
Well, you have to accept that the idea of sanctions was stupid
Not only stupid. Impotent, ineffective, criminal, unethical.
Nixon found that out about 50 years ago.
It seems the collective has become so ridiculous that they are out of their minds. Thinking the unthinkable.
😅🤣😂😅🤣😂😅🤣😂
Remind me, who said they wouldn’t pay for Russian gas in Roubles, and how that turned out? In a battle between those with financial clout and those with vital supplies of basic foodstuffs, oil, gas, minerals, fertiliser, etc., I think we know which will win.
@Apooorv D No they don’t. And sanctions haven’t backfired. They are doing exactly what they are supposed to do, deplete and prevent Russia to rebuild it’s military capacity.
@Apooorv D Isn’t getting help from China, India and Iran also globalism?
I support a price cap on Russian oil of $1 a barrel let them sell all they want the oil that is purchased should only go into reserves and not to open market immediately slowly release it to open market you know supply and demand do not want to press to fall too fast it would be nice but not good
They shut down nordstream 1 and won’t sell it to any one who supports the cap, now go and buy with $1 dollar and fill your reserve.
you can also support the idea that you should have a $billion but it will never happen.
This guy talks crap! Oil like all commodities are in the hands of market makers who are corrupt. The fish tank reality projected to us – then he makes sort of sense . The reality is he is talking crap.
If you can’t understand what he’s said, probably there’s sth wrong with you. Even a 4th grader can get it
@Asiimwe Simon That is my point – it’s 4th grade make believe! Can’t you see beyond it?
@Native-American : This guy who replied to you starting insulting you, this shows an anti-social personality which in these circumstances points to him likely being a t-factory worker in st.petersburg for example.
@WHS reviews And then you proceed to do exactly the same but like a true minion of the MSM narrative you’re lack the self awareness to see it.
A month after this video, g7 decided to cap russki oil price and russki responded by shutting down nordstream1.
A day not month
the EU has gone koo koo. Accept Biden. Biden is just plain senile old men.
🌹🌹
Opec would never agree , nor Russia , Russia will Just stop the flow to Europe , Russia is Burning Gas each day with 10 million dollars . it is a bad strategic to Europe mainly in winter
Mr. Lift is practical economist
They’ve lost the sanctions and the fighting war so they have to come up with another bullshit idea, they keep digging a bigger hole while we have to pay for their stupidity
You were warned but you didn’t listen, now enjoy a long and cold winter this year lol.
G7 still think they rule the whole world.
Why don’t we put a cap on American gasoline at 2.50 a gallon so we can afford to drive to work and back. Let’s put a cap on inflation- maybe one or 2% annually instead of the 18% the last two years! Automobiles, food, homes and rent have all gone to the roof! See what happens when you start sending out stimulus checks to everybody for no good reason!!!
Stations that refuse should be set on fire.
It’s going to be a cold winter in Europe. But hey it’s all worth for Slava Ukraine 🇺🇦 right?
its about blaming russia but its the great reset they have to tear down the old system leaving you no choice but accept the new one…..
oil smuggling new buisness
Anywhere Byedone put his hand become poop.
the left came up with ridiculous unworkable idea?
Shocking!
What a joke. If I go to a shop and demand paying 20% less than advertised price, I will get thrown out.
@Hieronymus Jacabus Princeps OSe you didn’t answer my question. When you go bye milk, let’s say, do you go buy to a/the murderer?
@m d do you accuse and label everyone as a criminal without any judgment?
And Russian milk is really good 👍🏻 👌, you should try it someday
When someone get sick and verge of collapse so many weird thinking and plans comes to mind snd one of them is ready to finish him.
Stop and think…..the whole green energy they have been funding is a complete failure…green cant replace fossil fuel period it was a lie.
And finally they did it and now Russia has switched of nordstream 1 indefinitely.
no that is a different situation, NS1 is only operating with only 1 turbine out of 6. Only 1 turbine were sent to Russia from Canada. So that 1 turbine has to run around the clock 24/7 of course its going to break or leak with all the pressure on 1 turbine and because of that, regular maintenance has to happen often in order to make sure it is safe to operate and fortunately because of the maintenance recently they discovered a problem and decided to halt gas flow indefinitely. If maintenance was not done, who knows what disaster will happen and yet the West said Russia is playing political games.(it is explained in detail by Gazprom but the western news did not report it as the way Gazprom reported it.
Regarding the price cap Russia already said they will simply stop supplying gas/oil to countries that supported the price cap and it will further destroy the supply chain and raise the price even higher than before and non of the G7 can get russian oil that will worsen Europe energy crisis and it will impact the whole world. Those countries that does not support it will get discounts price from Russia including african countries, China, India and many more. In the end G7,EU, the West is just destroying themselves step by step
In other words Russia is making a killing, those sanctions are working great, for Russia
G7 Oil cap is exactly what the old Soviet Union would have done. Moscow’s Soviet died a long time ago in History; and from a real politick His-Story, Moscow’s Russian Federation is not the former Soviet Union;’…… But London & Washington’s NATO, Brussel’s EU, Berlin’s E & W Germany and last but not least, Zhongnanhai’s China are effectively post modern Neo-Soviet Supranational States.
You exactly defined my opinion and my surroundings (Russians). 1. The West still thinks in 90-00 years, when they could dictate to the whole world how and what to do (and after the collapse of the USSR, this was logical). 2. The EU actually resembles the USSR of recent years, there is no unanimity on issues (in the USSR it was the beginning of separatism), the meaningless positions of EU leaders (since the countries themselves are now deciding the main issues). Naturally, the structures are completely different, just an opinion.
@Ников Glad the silent majority are on the same page. Innocent proletariats and peasants but not so ignorant of nihilist demagoguery.
Effectively a negative Highway Toll.
The Collective West has gone completely insane. That’s why their economies and societies are disintegrating.
Good Riddance from India.
EU leaders are clown innit? they think the whole world revolves around the Western countries only
Implementing sanctions on a outside party implies that by virtue you have authority… I can see they are still a little deluded about the authority they think they have and are ketting the karma thats deserved.
this aged well
G7 would put a price cap on what Russian gas? Russia already stopped gas supply to the EU. 😛
I have decided to impose a price cap on the services of the local escort agency! Luck up your daughters.
Put a cap on military base. It’s an act of hegemony
The west should ask their government to put a cap on gas and lng price
Western Powers seem to hate to admit that they are wrong?
They are Greedy as well……
I should try it at grocery store and car dealer
NATO’s proxy war a killing field on Ukrainians!
U.S. NATO’s plan to oust Putin gone awry!
U.S. to have a change of Administration in November gonna be busy focus internally rather than the international arena.
EU Govt self inflicting crisis on own populace are in panic mode.
Countries all over the globe turning against fake democracies of the collective West.
I am no financial expert but i’m pretty sure the seller controls the price not the buyer. the only power the buyer has is not to buy it at certain prices but energy is not something you can afford to skip when you don’t have it.
Well, Sony is raising the price of their PS5 so I’m putting a price cap on it.
I agree
I’m Canadian it’s nice to see a guest speaker on mainstream media explaining how dire would be to try to put a price cap on Russian resources. I’m actually hoping Russia will cut off all natural resources to the Western world if the sanctions continue to be as aggressive as they have been. I’m actually looking forward to the people rising up and holding their governments accountable for their policies that they held around the world. All Western countries are responsible for their people first. They’re not responsible for dreams of the globalist and or their Adventures in expanding their territory.
this guy is part of a think tank, that lobbies for big oil
@Ronnie I actually don’t care if he lobbies for Big Oil he’s speaking the truth on the subject. It looks like a real cold winter for almost all of Europe and it will spill over into Mainland North America and throughout the west of the Western world if politicians don’t start being diplomatic. It’s so sad Western politicians will be warm this winter and eat well well their citizens suffer
All the governments meaning American government also I am from America this has to stop
In a bigger & more effective move, Putin has decided to help the Greens achieve their Net Zero targets, so he shut down Nordstream 1. They should be rejoicing in the streets, but alas, didley squat. Is something wrong? Hasn’t Vlad just saved the planet? Surely the fact that some of them are going to freeze to death this winter is a mere small price to pay for the future of our marvelous planet? Some sacrifices for the common good? Sounds reasonable to me. Maybe it will cause the Rebellions “extinction “ it’d be a good place to start.
This will work fine. Russia needs the money, so they will keep producing. And they are not going to cap the oil price, they are outlawing insuring oil transport from Russia if the oil in that transport is sold for a price higher than the cap. Without insurance the transport is not possible. So Russia is forced not to charge more. This does not affect other oil producing countries. And yes all of the companies that insure oil transported are located in the g7 countries or western countries that have joined the sanctions. So it can be enforced quite easily.
@Andrew Lester thomas You’re clueless regarding shipping and when you can’t win the argument you criticize a non English speaker (who knows shipping better than you ever will) for bad spelling. So you’ve as much as admitted you lost the argument.
@Gerb the Great Listen gerber baby food, the cost of extraction of Russian crude is as low as $20/Barrel not $40, what else are you unware of? Oh right! everything.
@Gerb the Great Again you are making clueless comments based on wishful thinking and not reality: India & china are paying $70-80/barrel,. Your price cap is failure, maybe you should cut back on eating all that Gerber baby food.
@RepealSection230ForBigTech Which bit did I admit to losing. I gave up on him when he was using words like ‘cuz’ and rambling on about eletric cars destroying the environment and how green energy was a western conspiracy. Don’t try and twist it to make out I tried to cover up losing by raising the issue of his poor communication! He’s a bit coin warrior living in one of the most repressive countries in the world who probably doesn’t want to pay his( taxes in Sweden (which are high) I gave a plausible argument which you (or him) simply don’t want to believe.
By imposing a Price Cap on Oil the EU has kicked its Own Butt & is Oblivious to the Fact.
And the G7 just did it. Cause they think they can order the world around to cover their own shortcomings without consequences. The US, by trying to damage Russia through EU, has only hurt EU and the US. Our EU leaders are woke morons. Changes in politics are coming. Guaranteed. Just look at all the demonstrations that happened this weekend in Europe. People are tired of this none sense.
Who is the communist and who is the capitalist?
Ahh, great a think tank on american news. lobbyisme run rampant
Yellen is a fraud, full of BS
Except the price cap will be enforced by depriving Russian shipped oil of insurance. No port will accept an uninsured tanker.
The US already banned Russian oil, EU oil ban in December. Ports from those countries yes but not China, India or other countries that haven’t place sanctions on Russia.
Energy is more important than insurance. In the end new players will replace western insurance
lol india and china also provide insurance, do u think west have monopoly on insurances for oil shipments hahahahahaha, google is ur friend but i guess u dont know how to use it lmao
You live in an MSM bubble: Russia is offering insurance and bonded collateral for their oil shipments, in addition, India , china have huge insurance funds and companies.
Shipping insurance is dominated by the West. No ship will be able to dock in any port and certainly Russia is economically dependent on selling oil. It’s checkmate for old Putin!
@W.M.E.C AntiNoobTrader I haven’t actually noticed any migrants/refugees going to Russia or China lately and certainly not to Oman or India. By the way you speak (and spell) you either haven’t been in northern Europe (England, Sweden, Finland) for a very long time, or you are not from there at all, because what you say defies all reality. One point though: you might find the temperature in Oman soon exceeds that with which human life is possible due to greenhouse warming. I hope Mother Russia can help you out! Give her a bit of Crypto and I’m sure she will.
As a non expert, dear Andrew, you are in no position to offer lessons to anyone. Of course India and China will not cooperate, the fact that you don’t know the reasons why, tells me how little you know.
Finally some common sense! you will not hear that from European leaders or USA! their vengeance is so huge that they don’t care who suffers along the way…
“Ridiculous”. Ridiculous is calling him an “expert”. He has so elementary ideas, not able to go one step further. He, as an “expert”, has no idea how wells work in the Artic Polar Circle and how the shipping insurance market works either
Let’s go Brandon
This is what i would do if I don’t make proffit on my products i just stip producing. Simple as that.
I thought West was wicked…but now I think West is idiot and stupid 😂😂😂
The G7 think they control the world.. they do not
It is a fact that oil price cannot be manipulated simply because supply and demand dictates set price. Therefore, those that believe that they can impose a price cap on oil and gas are literally fooling themselves. All they benefit from will be a higher price once production is minimized and adjusted to meet lower supply. Oil buyers can enjoy $50 a barrel at higher production output, or pay $250 at lower production output. OPEC ➕️ top members, Russia and SA, dictate oil production output. They can decide to produce 800,000 bpd each or 200,000 barrels bpd. The EU keeps putting a rope around their neck and pulling tight themselves. They must face the fact that they can’t win when it comes to needed energy like natural gas and oil!
Kind of odd that capitalist countries are trying to applying price control to oil prices white communist countries are practicing free market.
Attempts to change the seller and buyer vice versa is only for kids.! That’s what the western government has become !😔
There’s an invisible hand behind this controlling everything
forgive me, it’s definitely not the market
Bidens demented logic
Russia has already stated that it will not provide oil to any country supporting the price cap, so once again this is a self sanction by the west if they go ahead with this measure. Anyway, the west needs China and India onboard with this measure for it to work and i don’t see that happening at all.
He may look like an idiot and talk like an idiot but don’t let that fool you. He really is an idiot.” ― Groucho Marx
yes indeed, that’s excellent description of Joe Biden and everyone that enthusiastically voted for him and still supports him.
NATO’s countries are still living in the 90’s
G7 is doing commie job on dictating the market.
Nonsense…
All the countries need oil to develop their economy, every artificial action on this market will cause a terrible turmoil for all countries. The poorest will retaliate against the G7 which is causing chaos and poverty for their selfih interest.
This video aged like wine!
Bullying west can do the bizarre as historically proven
Put price cap on birds and soon you go fly kite
The economic professors and the Nobel price winners have to return their awards University education is not relevant
This idea is original by Karl Marx. Not ridiculous, but dangerous.
NATO won’t stop Russia. The end.
This guy is referring to free market principles as a way of explaining how a price cap within a sanctions regime wouldn’t be possible.
Either he is no expert or he is lying.
A country that adopts the price cap allows Russian oil to be imported if the price is below the cap and it bans oil from being imported above that cap. What is so cosmically difficult to understand here?
You really don’t understand maths or logic do you? If Russia reduces production, no one can make up the short fall. Neither India nor china will stop buying Russian oil at the price Russia sets, but the rest of the world will have to buy oil only from OPEC, but, because the Russians will have reduced output to only meet the need of India, China, the shortage will mean OPEC will charge the West $140/barrel that will kick your economy over the edge. Only 30% of the Russian economy is based on the sale of gas and oil.
“Oil is a fungible commodity”.
This is always a sign of somebody who doesn’t know what they’re talking about. For instance trade patterns are limited by the finite amount of tanker space, especially with the long maritime distance from Russia to Asian markets. I think this one is a product of wooly “globalist” ideology about how you can’t people can’t defeat the inevitable triumph of capitalist Thought….
While they’re at it, they should put invasion caps on Russia.
Well we know Russia won’t be able to put all their Oil/Gas on Pipelines to India/China and other countries in the short term, they don’t have the capacity. They’ll either have to build way more pipeline capacity or shipping capacity, including LNG liquefication terminals.
It will be interesting to see how the ships get insured when they try to ship Russian Oil/Gas to other markets, since the G7 owns all the insurance companies. Essentially any port would have to rely on Russia “self insuring” their boats and paying up should anything happen. I’m not sure I’d accept that risk unless the oil/gas was steeply discounted. I’d buy unsanctioned Oil/Gas unless I could get the same discount India or China is getting.
It certainly would be a shame if anything happened to those uninsured ships on the high seas.
I hope you don’t mind a history lesson😘.
There used to be a super state called Union of Soviet Socialist Republic (USSR) which wasn’t part of G7 and was sanctioned in every possible way.
Guess what, it’s ships with state backed garrentees had one of the largest exports in the world.
Also most of the ports at the chokepoints aren’t influenced by west, Egypt, S.Arabia, Iran, India, Indonesia, Malaysia have maintained historic ties with Russia, infact a Russia military cargo ship was docked in India.
As for gas pipelines, the Russians have constructed a 17 billion $ Yamal gas terminal in Siberia and thanks to climate change can now transport gas via seas.
And it’s not just China and India, but rather Asia including Japan, Korea, Vietnam buying Russian. Heck even the EU is sourcing Russian Gas from China😁
@Apooorv D I remember that USSR. It collapsed under the weight of sanctions and a mismanaged economy.
@Dethfeast the USSR collapsed because it had a trade deficit and political upheaval at the same time.
British Boris, Italian Dargi, American Biden and to a lesser extend Olaf and Macron from Franco-Prussia have caused political upheaval like never before with thousands clamoring out on the streets in protest.
Due to covid pandemic and the massive money printing, there is what you labeled “economic mismanagement” is well established.
Should powers like Russia sanction and continue to strangle European economies, How long do you think before Europeans rise and bring about a new *Revolution* ? Even de-dollarisaton is getting mainstream 🙄.
Another question, has any country which has a massive trade and budgetary surplus and neglible debt has had a internal revolt?
the western evil axis works to enrich and strengthen the position of the oil tycoons as shadow governments, making the whole world suffer for their ambition to rule the world
russia will cut oil production & sales without losing nominal revenue, impact of rising prices as global supplies from russia are artificially restrained by illegal sanctions
while the western oil tycoons will benefit greatly from increased demand and rising prices at the same time, which the people of the whole world have to bear