SEMO econ prof on US and UK energy prices

Southeast Missouri State University economics professor David Yaskewich said Friday the reasons why the U.S. is faring better than the United Kingdom in terms of energy are not difficult to discern.

David Yaskewich

British Prime Minister Liz Truss, who assumed the premiership last week just days before the death of Queen Elizabeth II, announced her government will cap domestic energy prices for U.K. homeowners and businesses in the face of a cost-of-living crisis, which is expected to push the cost of energy up 80% this winter.

"First and foremost, we need to remember the U.S. is a net exporter of natural gas while Great Britain is a net importer," said Yaskewich, who has chaired SEMO's Accounting, Economics and Finance Department for 10 years.

Yaskewich said the stark difference between energy costs between the U.K. and U.S. probably has more to do with Great Britain's location in the world.

"Continental Europe is more vulnerable to the unrest in Russia and Ukraine -- and what impacts the continent will affect the U.K.," he said.

Yaskewich also noted reduced gas exports from Vladimir Putin's government are also detrimental to Great Britain.

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