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The truth about the gas roof agreement and energy policies. That’s not what they tell you

Today they will tell you that, after Draghi's outburst about the failure to deal on gas at 8.30pm yesterday, a satisfactory agreement was reached on gas at 2am on October 21st, making our former prime minister look like the hero who imposes his harsh vision on a divided Europe. Too bad this is not the case.

Let's take the words of the Germans, reported by Politico :

a) Price ceiling. It is not that it has been approved, but, quite simply, Germany has agreed to discuss it, lifting the veto. Then, in practice, there are major difficulties: do we want the “Iberian” ceiling, that is, only on gas, or on the TTF price, which, however, would also have an impact on the future? It would be enough to put the TTF under the control of the stock exchange entities and allow the suspension in the event of a thin market and excesses of upside;

b) Purchasing groups. They will be voluntary, therefore, in the end, they will be nothing more than any multilateral agreements for the purchase or development of extraction fields in third countries. In short, who is there is, and who is not there is okay;

c) Loans for the abatement of bills, ie common debt, do not necessarily exist. Scholz limited himself to stating that "We will take them into consideration", according to the SURE scheme, but "Taking into consideration" does not mean yes, but it means that we think about it, perhaps to say no again, as it seems from the most recent news

In the end, however, these are "Promises" that will require other meetings, other meetings, technical studies, impact, which may slip over time, until they are particularly useful. But it is convenient for the communication of part to make it appear as if the agreement was there. Meanwhile, the memory is short and in a week no one will remember it


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The article The truth about the gas roof agreement and energy policies. It is not what they tell you it comes from ScenariEconomici.it .


This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-verita-sullaccordo-sui-tetto-del-gas-e-sulle-politiche-energetiche-non-e-quello-che-vi-dicono/ on Fri, 21 Oct 2022 14:08:25 +0000.