The short answer: “In Utah, we enter into this world conflict in a very good position,” said Natalie Gochnour, associate dean at the University of Utah’s David Eccles School of Business and director of the U.’s Kem C. Gardner Policy Institute.
Gas and oil
Utah’s average price per gallon rose nearly 70 cents in the last week and was at $4.19 Wednesday according to AAA, just three cents shy of the state’s all-time high.
But Utahns also use less gas on average than those in many other states. “We are one of the lower per-capita users in the country,” Gochnour said.
Another positive, according to Gochnour, is that high gas prices reflect oil producers getting top dollar for crude oil, and Utah is among the top states in the nation when it comes to oil production.
Exports
According to data Gochnour cited, of the $17 billion worth of export business Utah did in 2019, only about $20 million went to Russian markets. In 2019, Russia was 43rd in terms of dollar value when it came to Utah's export volumes.
.png?width=1200&upscale=true&name=Utah%20Today%20Banner%20(v2).png)
.png?width=750&upscale=true&name=Round%20out%20your%20day%20(v5).png)
