The funny thing about price caps are that they are usually set...

The funny thing about price caps are that they are usually set by the people buying not the people selling. I have no idea what world we live in where people that buy think they can set lower prices of a commodity that they don't own or have control over, but not least a commodity that is in high demand globally.

The outcomes are usually to limit output, it's not going anywhere in the ground (meaning that supply goes down) or not sell it to lowballers (selective countries get stronger due to access to energy). Either way if your not an interested buyer the seller is not going to pay attention to you if there are other buyers around.

Given that the selective countries that will still buy will likely get them stronger are also in a position to overturn the world powers then west who are setting the caps don't want that outcome either so they will probably look to put conditions in place that rise tensions between countries which has still a negative effect overall.

I am not worried so much about price caps other than war tension but I am worried about redirecting supplies. Meaning that China will likely lower energy security from Australia (i.e. WDS) given they have such a strong position using russian gas and now saudi gas. But at the same time given others are redirecting it will bring more customers.

The problem here is exploration is low for new reserves and western reserves are no where near to the levels of the east so they can wait us out more than we can.