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Short term, the US profits from the war in Ukraine mostly because it can serve its energy needs from its own production, while europe is reliant on imports. As
by est31 4y ago
Short term, the US profits from the war in Ukraine mostly because it can serve its energy needs from its own production, while europe is reliant on imports. As liquifying gas and shipping it over the oceans is expensive, it is cheaper to have geographically sources, which means that Russia is one of the best sources of gas for europe.
The world market prices for gas have skyrocketed, which is good for every country that has net exports of gas, or is self-reliant (USA), and bad for every country that has net imports (EU). The country that has profited the most (relatively) is probably Qatar which sits on the single biggest natural gas field in the world whose value went up rapidly in the past year, and has a relatively tiny population.
The EU was Russia's biggest trading partner, and a cut in relations always hurts both sides. So it hurt the EU way more than it hurt the USA. It's not just about gas, the EU also imported minerals and exported many goods like cheese or wine to Russia.
It's also important to note that war is always extremely expensive, to both sides.
On the level of individuals, there were certainly many people in the US for whom the war had negative consequences economically, but there were also many for whom it had really positive ones, say people working for the oil and gas industry.
- candiodari 4y agoActually natural gas prices haven't rallied much ... It's of course true that they spiked (to ~4 times the normal price) when Russia attacked, but they dropped back to normal. https://tradingeconomics.com/commodity/uk-natural-gas https://tradingeconomics.com/commodity/uk-natural-gas