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At least 4 killed in Oklahoma tornado outbreak; 10 shot outside Florida bar; AZ receives millions of dollars for solar investments; Maine prepares young people for climate change-related jobs, activism; Feds: Grocery chain profits soared during and after a pandemic.

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Ukraine receives much-needed U.S. aid, though it's just getting started. Protesting college students are up in arms about pro-Israel stances. And, end-of-life care advocates stand up for minors' gender-affirming care in Montana.

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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.

Threat of Iran War Hurting Weak U.S. Recovery

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Thursday, March 22, 2012   

RALEIGH, N.C. - Concerned that Iran may be building nuclear weapons, some in Congress are pressing the United States to bomb Iran's nuclear facilities, or help Israel do it. However, economists warn that even the threat of war is hurting the economic recovery.

The standoff in the world's most important oil-producing region is driving up the price of crude, says economist Mark Weisbrot, co-director of the Center for Economic and Policy Research, adding that any conflict probably would 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 North Carolina is averaging around $3.80 a gallon, but it's above $4 in some parts of the state, particularly the coastal areas.

Economists cite numerous factors behind the rising price of gasoline, including a bottleneck at refineries and the exporting of gas 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. Since it's a global market, he says, 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."

Weisbrot says the European economies are in an even more vulnerable situation than that of the United States, adding that a new crisis there could easily spread across the Atlantic.

"Just as it could tip the U.S. economy into recession. 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 the Israeli government refuses to confirm or deny it.


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