Abstract: The present invention is a pressure equalizing and foam eliminating cap for a container. Pressure equalization and foam elimination is accomplished by designing the cap so that it can be rotated between a fully closed position, a gas venting position and a fully open position. This is accomplished in several ways. A first embodiment includes a spring biased, gas separation membrane between the cap and the mouth of the container. A second embodiment includes a finely, transversely perforated, annular plug on the underside of the cap and a seal between the plug and the interior of the neck. Alternatively, in this embodiment, the perforations may be larger and protected by a gas separation membrane. A third embodiment is similar to the second but incorporates two seals, one above and one below the perforations. In this embodiment also, the perforations may be larger and protected by a gas separation membrane.