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High food and energy prices, what comes next

| Jul 22, 2022, 10:05:26 AM | AP
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Farzad Taheripour is a research professor in the Department of Agricultural Economics at Purdue University. In this video, he explains why food and energy prices have risen and what could be done to address these issues. Taheripour says the pandemic and the war between Russia and Ukraine have contributed to rising food and energy prices. COVID-19 disrupted agricultural and energy supply chains worldwide. Both Russia and Ukraine are big producers of staple cereals such as wheat, barley and corn. Taheripour says Russia in particular is a big player in the energy market. The ongoing war has affected the distribution and production of these resources, reducing supply and raising prices around the world. Taheripour says increases in crude oil production in countries other than Russia has already begun. This will help reduce the impact of the war on gas and energy prices. Taheripour believes countries around the world should invest in sustainable energy technologies in order to become less reliant on fossil fuels.

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