skip to main content
skip to newscasts

Wednesday, May 1, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Violence and arrests at campus protests across the nation; CA election worker turnover has soared in recent years; Pediatricians: Watch for the rise of eating disorders in young athletes; NV tribal stakeholders push for Bahsahwahbee National Monument.

view newscast page
play newscast audioPlay

House Democrats say they'll vote to table a motion to remove Speaker Johnson, former President Trump faces financial penalties and the threat of jail time for violating a gag order and efforts to lower the voting age gain momentum nationwide.

view newscast page
play newscast audioPlay

More rural working-age people are dying young compared to their urban counterparts, the internet was a lifesaver for rural students during the pandemic but the connection has been broken for many, and conservationists believe a new rule governing public lands will protect them for future generations.

Economist: Threat of Iran War Hurting Economy, Raising Gas Prices

play audio
Play

Tuesday, March 20, 2012   

CONCORD, N.H. - Concerned that Iran may be building nuclear weapons, some in Congress are pressing for the U.S. to bomb Iranian nuclear facilities or help Israel do so, but economists warn that even the threat of war is hurting the economic recovery at home and abroad.

Mark Weisbrot, economist and co-director of the Center for Economic And Policy Research, says the standoff in the world's most important oil-producing region is what's driving up the price of crude. And he says any conflict would probably have a terrible impact on the frail European economies, which in turn could damage what is still weak growth here.

"Oh, very easily. We're only growing 1.8 percent for this year. The threats against Iran, the threat of war, could easily tip the U.S. economy into recession."

Gasoline in New Hampshire is averaging around $3.71 a gallon. That's just 10 cents below the national average.

Economists say there are numerous factors behind the price of gasoline, including a bottleneck at refineries, and the exporting of gasoline to Europe. But Weisbrot says the threat of war is the single reason crude oil has gone up $6 to $10 a barrel since the beginning of the year.

And, he says, since it's a global market, drilling or building pipelines here wouldn't make much difference.

"Any kind of oil production here, or in Canada, would have very little impact. What we're looking at really has nothing to do with whether the President wants to drill anywhere, or build a pipeline."

He says the European economies are in an even more vulnerable situation than the U.S. and he says a new crisis there could easily spread across the Atlantic.

"Just as it could tip the U.S. economy into recession, you know, Europe is already in recession. And Europe is more fragile as well because of the financial problem."

Estimates vary widely on how far Iran may be from producing nuclear weapons, and it's even uncertain if that's the regime's intention. Most experts agree that Israel already has nuclear weapons, although that government refuses to confirm or deny it.


get more stories like this via email

more stories
The 340B rule empowers select safety-net providers by providing discounts on outpatient prescription drugs and in reaching more eligible patients to provide comprehensive services. (Banana Images/Adobe Stock)

Health and Wellness

play sound

Access to reduced-price medication is a necessity for many rural Missourians with low income. Rep. Cindy O'Laughlin, R-Shelbina, the Senate Floor …


play sound

The Environmental Protection Agency has finalized a rule to close a significant loophole in coal ash disposal regulations. The Coal Combustion …

Health and Wellness

play sound

Alabama is running out of time to tackle Medicaid expansion this legislative session. More than 230 people gathered earlier this month with the …


Connecticut's 2011 paid sick leave law was the first in the nation to require private-sector employers to provide their employees with paid sick leave. (Adobe Stock)

Health and Wellness

play sound

A Connecticut bill would expand the state's paid sick leave law. The initial 2011 law requires 40 hours of paid sick leave for workers at employers …

Health and Wellness

play sound

More than 1,000 family members of firefighters who died in the line of duty, including some from Texas, will gather in Emmitsburg, Maryland, starting …

The American Heart Association cites emerging research showing in stroke care, elements of artificial intelligence-based supports reduced the chances of additional strokes by more than 25%. (Adobe Stock)

Health and Wellness

play sound

Artificial intelligence has come under scrutiny over potential negative impacts on society but a Minnesota medical expert said it has become one of ma…

play sound

On this May Day, Wisconsin groups are rallying in Green Bay to highlight a key issue facing the working class: the ability to retire. Organizers see …

Social Issues

play sound

Grassroots organizations are sounding the alarm about Tennessee's new law allowing teachers and other school employees to carry guns. Gov. Bill Lee …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021