Economist concerned about energy sector’s impact on farm costs
An ag economist says one of the areas of the economy that concerns him is the current trend in the energy complex. Virginia Tech Professor Emeritus Dr. David Kohl says he’s seeing more divestment in fossil fuels and more investment in green energy, and it’s causing higher fuel prices. “So I don’t see this one going away. As a matter of fact, we’re playing right into the hands of OPEC and Russia, and so any disruption in those areas of the world could continue to keep these oil and energy prices high.”
And, Kohl says a lot of farm and business expenses are related to the oil and energy complex.
Kohl made his comments during the Midwest Economic Forecast Forum hosted by the Wisconsin Bankers Association.