As gasoline prices top $4.00 a gallon at some gas stations in Colorado due to the ongoing conflict in Ukraine, experts in the energy industry say the impacts of the war on Coloradan’s wallets are likely just beginning.
Russia, the aggressor in the war in Ukraine, is one of the top producers of both oil and natural gas.
“There is no question that Putin wants to utilize oil and natural gas as a weapon of geopolitical change,” Harpole said. “I was talking about Europe walking into this trap that Putin began to set as many as 20 years ago.” “ are about to become very educated by virtue of the prices that they see that are a derivative of worldwide events,” Harpole said.
Harpole and several other energy experts said Colorado’s decision to implement further restrictions when it came to access to drilling for oil and gas in 2019 has made it difficult for the state to combat the increased prices we are now experiencing.