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The Terrible Mistake of the European Union Energy ‘Price Cap’ Proposal

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The Terrible Mistake of the European Union Energy ‘Price Cap’ Proposal
Natural gas pipes built with a 3D printer are displayed over Russian and European Union flags in this illustration taken Jan. 31, 2022. Reuters/Dado Ruvic
Daniel Lacalle
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Commentary
Only 15 years ago, the European Union produced more natural gas than Russia exported, according to the EIA. Repeating past mistakes and maintaining a failed energetic interventionist policy would only worsen what is already a structural disaster.
Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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