How a Russia-Ukraine Conflict May Affect the Wallets of East Texas People
For many East Texans, hearing the news of the rising Russia-Ukraine tensions is a concerning headline, for sure. At the same time, as we go about our daily doings, we hope for the best possible resolution to this situation--particularly for any of our own who could be called upon to serve should things go askew.
But what else would this overseas conflict potentially do to the everyday, hardworking people of East Texas?
Actually, it could do a lot. In big ways, yes. However, it could have a disruptive effect on the financial situations of many of us in East Texas.
Obviously, most of us watch with hopeful eyes and pray for peaceful resolutions. In the meantime though, it is good to be aware of how a conflict affects our financial worlds right here in East Texas.
KHOU11 reports that "U.S. Rep. Colin Allred was in Ukraine just weeks ago visiting with a bi-partisan delegation, and said Texans should definitely keep tabs on the developing situation." Rep. Allred said:
“We may see higher energy costs come out of this, and we may see some of our supply chains either interrupted, or parts of it becoming more expensive because we’re trying to hit those parts of the Russian economy,” Allred said on Inside Texas Politics.
After all, Russia is the world's 2nd largest producer of oil. And tensions there could mean higher energy prices.
AND I don't have to tell you that could mean just a higher cost of living, generally speaking. That's not exactly what we want to hear when we're already dealing with enough in that regard as it is.
Might this serve as a catalyst to inspire more East Texans to go with electric vehicles?
I'm not so sure. That seems to be a difficult transition for many of us in Texas to make. Hopefully, we don't have to find ourselves forced to do so in response to a Russia-Ukraine conflict. And hopefully, there won't be a more elevated conflict at all. But we shall see.
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