The Geopolitical Ramifications Of Price Caps

Price Cap Politics There is a notion making the rounds among Middle Eastern analysts that the region is uneasy about the G7 price cap because it’s an energy weapon that the West could turn on OPEC members with which the West has precarious relations. The jury still seems to be out as to whether this new oil price weapon will fail (largely depending on China and India) or whether it represents a future threat to Middle Eastern and African OPEC members. By Tuesday, Turkey said it had resolved the bottleneck of oil tankers waiting to pass through…