The U.S doesn't buy too much oil from Russia, but others do. When they don't want to sell or jack up the prices. The rest of the world will feel that increase in price. The price of oil was 105$ a barrel as of three weeks ago, But closer towards the end of February the price rose to 120$ a gallon. 120$ a gallon is about 4$ dollars a gallon. The price of gas in Iowa right now is 3.348 a gallon on average throughout the whole state.
This war will have an effect on more than just the U.S., it will have an effect on the whole world. Russia and Ukraine are both major exporters of wheat. Combined the export 30% of the world's wheat, and Ukraine exports 15% of the world's corn. Many of the wheat and cornfields in Ukraine are near the border of Russia, so Russia could easily burn down their fields. Which would cause a big drop in their corn exports, since they are such a big percent of the world's corn, the rest of the world would also feel it.
One other thing that might affect us is a cyber attack, and Russians are some of the best at cyber attacking. Russia may get mad at the U.S for putting sanctions, or for even helping Ukraine. They might attack us and that would not be very good.
https://www.nytimes.com/2022/02/23/business/economy/russia-ukraine-global-us-economy.html
Are you scared to see how this war affects us?
Do you think that gas prices will rise?
Replies
Great topic choice Keagen! I do think your summary is just too brief to do this topic justice. You need to expand and educate a bit more. Also be sure to reply back on three different days.
I think the gas prices will most likely rise. Not even that but other manufactoring needs will probably raise in price too. Maybe not from just the war either it could be anything. I do hope US doesn't get involved because then it will all be a mess.
I do think that the gas will raise its prise. I don't know if it will be because of the war or just other stuff. I hope we don't get involved in the war and stay out of it as much as possible. If we get involed if might turn into a big war and i don't think that will be good for anyone.
Of course I am worried about the future of this conflict. I do not think that if this war stays between just Russia and Ukraine it will effect us too badly. But, I fear that Russia or its allies will use the small victory of Ukraine as fuel for more invasions. That is what I am really worried about. Because once Russia begins invading other countries that are protected by the United States everything will change.
Sort of, since I am 18, I do have to worry about the draft. And if WWIII does breaks out. Then there is the likelihood of me fighting in the war.
The gas prices might rise a little since we do get a little amount of oil / gas from Russia/Ukraine.
My biggest gripe is not with Ukraine and Russia currently. Putin is setting the stage for something bigger. My biggest fear is that if China decides to invade Taiwan, then World War III will be inevitable. It's terrifying to think about. I hope that our world leaders realize that war in our age is outlandish and childish. I pray that Ukraine will be restored to its former glory.
I think that the Ukraine and Russia war will affect us in several ways. One of these ways being the price of gas will keep going up. We also buy oil from russia and since they may need it more for their war, chances are they will rise their prices for oil way too high.
I think that the price of gas will go way up over time. Because we are putting sanctions on Russia and we buy some oil from them and they could raise the prises surper high. We are to far away from Russia to be scared of the effects. Yes it could effect our trading but as a whole no I don't think it will effect us.
I think that if Russia tries to do anything stupid they will have to suffer the consequences because if they attack anyone in NATO they will most likely start a war. I think the gas prices are still going to rise which is terrible but, I am hoping they don't rise to far.
I wouldn't say I'm scared to see the outcome of the war but it could affect us very negatively especially if we also get drug into the war. I feel that the gas prices will most definitely rise although it might not be as bad as it could be.
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