WVUE Fox 8: Economists, energy experts warn of higher gas and other prices due to U.S. tensions with Russia

Eric Smith, professor of practice and associate director of the Tulane Energy Institute, was interviewed by WVUE Fox 8 about the impact of hostilities with Russia on gas prices.

“We import about 500,000 barrels a day [from Russia] and virtually all of it is either heavy crude or it is what they call heavy “Resid” or residual oil. We have the equipment to handle heavier oil and, in fact, we require heavier oil for our refineries. The reports I’ve seen said to expect something between an $8 and $10 increase in crude oil as a result of these tensions.”

To see the segment in its entirety, visit fox8live.com:


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