Gas prices in the Bay Area are already expensive, but they may spike even further as the conflict between Russia and Ukraine escalates.
"The prices are crazy and unfortunately they're only likely to go up," Daniel Kammen, Professor of Energy at UC Berkeley and Former Science Envoy for the U.S. State Department, told KCBS Radio.
Oil is already trading at near record highs, at about $100 a barrel, and with the tension in the Ukraine as the Nord Stream 2 Pipeline project is shutdown, Kammen predicted that we will see volatile, high prices for quite some time.
"Europe gets more than half of its oil and gas from Russia and so these tensions where there is a price to be paid for standing up is one that is coming home very quickly and, again, it's going to make the supplies that the U.S. sends to Europe all the more expensive," he explained. "It's also going to mean that any other disruptions in the system could cause prices to spike."
The Nord Stream 2 natural gas pipeline, which connects the German coast to Russia under the Baltic Sea, was put on hold by Germany Tuesday.
There's a variety of overlapping worries at this moment, Kammen said, dubbing the tensions an "ugly perfect storm."
