COLLEGE STATION, Texas — As tensions rise between the United States and Iran, it's safe to wonder what that means for us locally.
James Griffin, professor of Economics and Public Policy with the George Bush School at Texas A&M, said the potential for inflation of gas prices depends on the magnitude, and how long an oil shortage would last.
Griffin added that many Americans believe the United States is energy independent; meaning the country doesn't rely on others for its oil, so the tensions with Iran shouldn't affect us. But, Griffin said this isn't the case.
"As we continue to evaluate options in response to Iranian aggression, the United States will immediately impose additional punishing economic sanctions on the Iranian regime. These powerful sanctions will remain until Iran changes its behavior," said Griffin.
Despite recent tensions, Professor Griffin said that based on our past with the Middle East, the circumstances tend to be short lived. But, the bigger question that we should be asking is if the United States and Iran will ever find any diplomatic solutions?
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