Home of Lisa's Top Ten, the daily email that brings you the world.
Donate
SUBSCRIBE

Lisa's Top Ten

Russia Conflict Stokes Energy Concerns as Gas Prices Continue to Climb

“It can’t be good for prices,” R Street Institute resident senior fellow for energy Philip Rossetti said of a war in Ukraine.
A serviceman holds his machine-gun in a shelter on the territory controlled by pro-Russian militants at frontline with Ukrainian government forces in Slavyanoserbsk, Luhansk region, eastern Ukraine, Tuesday, Jan. 25, 2022. (AP Photo/Alexei Alexandrov (AP Photo/Alexei Alexandrov / AP Newsroom)
A serviceman holds his machine-gun in a shelter on the territory controlled by pro-Russian militants at frontline with Ukrainian government forces in Slavyanoserbsk, Luhansk region, eastern Ukraine, Tuesday, Jan. 25, 2022. (AP Photo/Alexei Alexandrov (AP Photo/Alexei Alexandrov / AP Newsroom)

With inflation in the United States up significantly and a potential war between Russia and Ukraine, fear is bubbling up that energy prices may increase further after a steady march upward over the past year. 

“It can’t be good for prices,” R Street Institute resident senior fellow for energy Philip Rossetti told FOX Business of a potential war in Ukraine. “We don’t know how bad it would be for prices. But it can’t be good for prices.”

Gasoline prices are up 39% since this time last year according to AAA, and natural gas prices increased nearly 60% between the beginning and end of 2021, according to the Energy Information Administration. 

Meanwhile, a lack of energy independence for Europe is giving Russia significant leverage as it takes increasingly belligerent actions threatening invasion of Ukraine, Rossetti says. 

Read More

Sign Up for Lisa’s Top Ten to get a daily briefing on the world each morning.
Start your free trial today.

Total
14
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *