Western leaders are becoming unhinged with price caps on oil.

 THEY BELIEVE THAT THEY HAVE THE POWER TO SET THE PRICE OF RUSSIAN OIL

ANY FRESHMAN FINANCIAL STUDENT WOULD KNOW THAT IT IS A FOOLS GAMBLE

If not so serious, it would be a laughable idea to believe that a group of countries could set the price of other countries oil. This would be possible if you did not need oil for your economic survival or you could buy oil from someone else for a equal or lesser price. The G7 cannot, they are verging on delusional insanity. OPEC, Russia, China and India and likely many more nations are breaking up in laughter at this whole idea. Russia has oil and energy, Russia has food, the most important assets for human life. Yet we are to believe that this group of 7 can dictate the price of oil produced in Russia. 

Russia can survive without selling energy to the U.S. or Europe. They can stay warm and not be hungry. The rest, due to their shortsighted energy policy and belief that they can rule the world, could be in serious energy, food and a economic crisis by January.

So, even if Russia wants to play this game, rather than just stop selling oil to the G7 countries. They can sell their oil to someone else, who can then sell it the G7 at world spot price. Russia will make more money, the intermediates will make money and the G7 will be paying a lot more than the $60 a barrel they hope to pay Russia. Of course, while their inflation rates skyrocket and their citizens are going broke, they will be able to proclaim how they just showed Russia who is boss. Just the same old symbolism over substance.

If that was the only risk it would all work itself out by the market dictating the price of oil. Sadly, we can expect that the suffering of their citizens will be used to further demonize Russia and set up the political opportunity to go to war with Russia.  Which is what this is all about. 

We have been at economic and political war with Russia for over two decades. Now, it has escalated to a hot war that it appears no one is going to blink.  We need real mature diplomats and statesmen to save the world, but sadly it seems there are none.