- February 25, 2022
- Posted by: Stratford Team
- Category: Economy
While oil and natural gas price increases may trickle down to consumers, other commodities, like wheat, may not be as impacted as initially thought.
DENVER — As the invasion of Ukraine continues, several local experts say the length of Russia’s invasion may determine how big the impacts will be to the global economy.
“Well, Russia is one of the three top oil and natural gas producers in the world, along with the United States and Saudi Arabia. And so if there are fears or actualities of disruptions in global energy supplies, then that drives the price of oil up,” said Elizabeth Van Wie Davis, a professor of international politics and policy at the Colorado School of Mines.
She said the last time oil prices were this tight was the invasion of Crimea in 2014. She also explained Ukraine is particularly important to Europe for…