a big food exporter and that is why the price of oil is going up. it is also the global reopening of the economy after the pandemic which is causing a mismatch between supply and demand. so demand, now people are going out, that has shot up and supply has not yet risen to meet it and when there is that imbalance, it affects prices. it can work itself out. is affects prices. it can work itself out. , ., , . affects prices. it can work itself out. , ., . ., out. is that the confidence that economies out. is that the confidence that economies have, out. is that the confidence that economies have, that - out. is that the confidence that economies have, that it - out. is that the confidence that economies have, that it will. out. is that the confidence that l economies have, that it will work itself out or are they worried that there are structural factors harder to shift? ~ .,, there are structural factors harder toshift? ., ,, . to shift? most forecasters predict it will eak to shift
when we fill up our car, maybe even when we by bread at the supermarket ukraine is a huge food exporter this is going to do all sorts of things possibly, we are all going to feel this. we are all going to feel this. whether or not you are the kind of person who follows foreign, and whether or not you are somebody well acquainted with all of this, and vladimir putin s mode of behaviour, we are all going to feel this in one way or another. certainly, if this is something that is resisted by the west for a period of time, then there will be a price to be paid for it economically and socially, certainly. i think lots of people in this country, ukraine, you know it is on the edge of europe, you know vaguely where it is, but, james, you re a diplomatic expert, tell us a bit about the geography of what s going on. well, you ve got to understand, ukraine is an enormous country. in the past, newspapers would say something was compared to the size of wales, well, ukraine is sort of france an
what should we all be prasing bracing for in terms of the larger picture of how much money we have to shell out. you had a good opening segment, look around your house, if it s not made of wood or metal, there s probably some petro chemical in there. almost everything has some form of it in there. if not, it took oil or some form of energy to get there. we may be growing with silicon molecules, and being happy about our economy, we still run this economy on hydrocarbons, the one thing you might have left out is food prices. ukraine is a major food exporter, wheat and sunflower, russia as well. i talked earlier this week with zelenskyy s top economic adviser, and he told me, this is the time that ukrainian farmers should be in the field to be planting their spring crops, but most of the places where the ukrainians farm are occupied or
education. or the two things that are going to ultimately, i think, defeat the democrats this fall. the price of food, and the price of gasoline. food is actually going to be a bigger issue than gasoline. there is enormous worldwide food problem created in part by what s happening in ukraine which was a fourth largest food exporter in the world. the food agricultural organization just released a statement that this is the highest price of food in history and that their index indicates millions are going to be starving in much of the world and america they are just going to be at great pain. and they are going to say joe biden did this and i think the theme is going to be we can t afford it we can t afford the gasoline price. we can t afford the heating oil price. we can t afford the price of chickens. i mean, just go down the list. steve: yeah. going to be impossible for democrats to answer that effectively. steve: well, as we just saw chuck todd and company said this is a huge r