FAYETTEVILLE, Ark. (KNWA/KFTA) — Economists say the conflict overseas could financially affect the United States. Whether it be from the U.S. sending aid or rising energy prices.
While economist Jeff Cooperstein with the University of Arkansas says it’s too early to tell exactly what type of impact the U.S. could see, he says it’s theoretically possible the war will have an effect on the energy markets. That’s because the Middle East is so crucial in oil production.
He also says when the U.S. sends weapons and other forms of assistance to Israel, it costs money.
“They have already announced they are sending weaponry, resupplying ammunition, moving an aircraft carrier group closer to Israel, so that is obviously defense spending,” said Cooperstein.
Cooperstein also mentioned how Israel is a tourist destination so tourism will likely be impacted. Especially Jerusalem, which is considered a Holy Land in all three major Abrahamic religions: Christianity, Judaism, and Islam.
As of right now Cooperstein says the war has not had an impact on the U.S.