As the energy crisis deepens in Europe the energy ministers are meeting in Brussels to protect their constituents from runaway energy costs.

They are proposing a few key items to address the situation including:

As the article linked above states, the Russians are opposed to the price caps and have threatened to cut the supply indefinitely if the EU follows through. With India and China willing and able to gobble up the Russian supply I fear this strategy could backfire on Europe. Additionally, punishing energy producers with windfall taxes I believe is a dangerous strategy as well. The hard reality is the EU is dependent on fossil fuels. Without Russian gas and a disincentivized energy production policy could be a double whammy.

What do you think?