Shell Warning to Gas Price Cap but Government Intervention Needed

Shell CEO, Ben van Beurden, warns of unintended consequences of a gas price cap discussed by the EU to try to protect consumers.

• “We will do our best to bring gas to Europe where it’s needed, but if the market signal is not there it’s going to be really challenging,” van Beurden said.
• He said there needs to be government intervention to tax energy producers to help the poorest people deal with the surging fuel costs.
• "Intervening in complex energy markets is going to be very difficult. Govts need to consult with market experts on what they can and cannot do in terms of interventions."
• Deliberate policies are required to make sure there is enough capacity without gambling on EU's energy transition.