The G7 countries have decided to implement a “price cap” on Russian oil. What that means, is that say Russia wanted $100 for their oil, the G7 countries would only offer a maximum of $50 (their price cap). This isn’t a detailed explanation by the way, just an outline. Sounds good eh? I’m going to try that next time I go down the pub. “You want £4 for a pint?, I’ll give you £2 ’cause that’s my price cap fella.” This is obviously bound to work and it’s a wonder why no one’s thought of this before. Makes the cost of living so much cheaper. Well, it appears Russia isn’t going to play, in fact, they have now shut down all natural gas supplies to Europe until “sanctions against Russia are lifted”. No more oil leaks or turbine delay excuses, the gloves are now off, and anyone who thinks Putin is going to ramp up supplies to help G7 countries lower the price of energy, had better think again. It’s going to be a long, hard Winter.