Veren Inc T.VRN

G7 Climate Club

[Dogsbreakfast4U]

Looks like they are doubling down on their goal to "phase out" fossil fuel as in the next 13 years with dire consequences for us non elites. Price cap on energy is also very troubling for investors in the sector. I suppose that is also a means for them to scare capital away. In the meantime they are asking for more production of course. How come most so called democratic countries are now governed by a bunch of buffoons who all seem to be singing from the same song sheet?

https://www.cnbc.com/2022/06/28/g-7-leaders-to-set-up-a-climate-club.html

 

Published Tuesday, the document said leaders were committed to “a highly decarbonised road sector by 2030” as well as “a fully or predominantly decarbonised power sector by 2035.”


We will take immediate action to secure energy supply and reduce price surges driven by extraordinary market conditions, including by exploring additional measures such as price caps,” it said.

[Sunvalley]

Just more BS from the mouths of idiots who think that they will rule the world soon. They have to appear to be doing something constructive. Price caps do not work, they just make the problem worse. Price caps while calling for more production? Who are they trying to kid? Only themselves I think.

[Anschutz]

So in essence if they were to place a price cap on the underlying materials, the impact will be less products produced.  Less products produced means less products available to the consumer. Consumers will still demand the products, therefore the distributor/retailer can raise the price of the product to whatever consumers are willing to pay.  The outcome I see is consumers vying for a

[Moemoney42]

Meanwhile with all the disconnection to reality they also want to slow inflation.. LMAO..!! Thats what happens when elites think they have all the answers.. who they gonna blame for this fiasco..??