By Guy Page
Vermont consumers, government and businesses will be affected by the Russian invasion of Ukraine, at least by inflation. And – at least in the matter of Russian liquor – Vermont has responded, as well.
Russia is a significant player among the nations exporting goods to Vermont. The Green Mountain State imports $33 million of goods from Russia annually, according to a 2020 U.S. Census data, making Russia its 11th-biggest exporter. Canada, China, Taiwan, Germany and Mexico rank 1-5 among exporters to Vermont.
100% of Vermont’s natural gas comes from Canada. Most of our oil and refined products (gasoline, diesel, heating fuel) also come from Canada, with a lesser amount from coming Texas, Matt Cota, president of the Vermont Fuel Dealers, said today.
However, oil is a global commodity and the price is impacted by wars overseas. Every 10 dollars that the price of a barrel of crude oil rises, the cost at the pump jumps about 25 cents.
If the U.S. were to pump more oil, that would lower prices, Cota said.
In particular, Russia is Vermont’s #1 source of rubber and rubber-made articles ($15.7 million: source – Stacker.com). That’s about 60% of the state’s total rubber and rubber products imports. Vermont business consumers of rubber and rubber products include Sleeping Well in Shelburne, Accurate Rubber Products in Swanton, Advanced Flexible Composites in Bennington, Blue Hubbard Slickers in Johnson, Knox Mountain Bags in Barre, Javfit in Vergennes, and MGarware Fulflex USA in Brattleboro [source: Dun & Bradstreet].
“Today I directed the Commissioner of Liquor and Lottery to remove Russian-owned products from state agent store shelves and cease purchasing new stock from Russian-owned distilleries until further notice.
“Later this week, I will issue an executive order detailing further action and state sanctions Vermont will pursue to respond to the illegal and heinous Putin invasion of Ukraine.
“There are few things individual states can do alone, but I am heartened by the overwhelming and united response from the Free World in support of the people of Ukraine. Vermonters are inspired by the bravery, courage, and sacrifice of those who seek nothing more than the freedom to determine their own futures. The Ukrainian people are fighting for the same values we believe in, and we must come together to support them.”
Despite their market cache, Russian liquor products aren’t a major source of export revenue. It owns just 7% of the global market share, behind both France and Sweden [source: RBTH.com]. Swearing off Stolichniya may be a solidarity-inspired hardship for some, but the fear of an incremental reduction in $128 million annual exports isn’t keeping Putin up at night.
In contrast to the $33 million in imports, Vermont exports less than $5 million to Russia – according to admittedly dated stats (2017) from the U.S. Federal Reserve, published this year.
Categories: Business
As I understand it, the Stolichnaya we get here in the U.S. is a product of Latvia, which is a NATO member state.
G2–AND Latvian banks were where Hunter Biden laundered cash through, along with Cyprus, etc. According to a BFP front page article quoting the US- EIA today, it says the US (2021) imports some 22 Million barrels of Russian oil monthly. Thanks Biden! But at least we’ll all feel batter about Vt.’s 2 degree temp. rise in the past 120 years! And we don’t have Trump’s mean tweets anymore! Let’s GO Brandon! Insanity….
Shut off the off the oil from Russia and turn on our our oil and gas. By the way the keystone pipeline carries mostly Canadian oil so we are also helping our neighbor. Stop buying rubber from Russia. Didn’t know they had the climate for rubber trees, Did we buy from Germany and Japan during WW II. Who the hell is running this ranch. This is war climate crazies. You are making life hard for working class people and retired on limited income unnecessarily!!!
Irrefutably, Putin is fighting against the infiltration of nuclear weapons in his backyard, encroaching western hedonism, the deep state, and the “great reset” globalist scum. Is he a saint? I can’t read souls so I don’t know but the evils he’s right now fighting are the same we’re fighting – or so I thought.
There is no longer a Lukoil in White River. That gas station is long gone and there is now just a Dunkin Donuts on that lot.
And what of our Nokian Tyres!
the governor’s response is lacking in intelligence. Russia was promised Ukraine would not join nato, in an international agreement. now they are planning to break that agreement, bringing NATO troops to Russia’s border! Putin is righteously angry! And the U.S. is inflaming tensions!
Meanwhile, GMP is rubbing its hands and licking its lips – EVs!!! EVs!!!! EVs!!!
Cha-ching cha- ching.
Not good for Vermonters… but hey.
We’re all good little virtue signalling cult members now.
The lie is that if we closed the borders today, while we might have to shift a few of our priorities, every building and home could be heated by resources we have in state, that we are selling outside the state, making us dependent on outsiders to fill the gap giving away those resources costs Vermonters at home.
We ought to be thinking this way: How can we become independent of the global economy?
Our standard of living without oil, gas, and electricity would still be the best because of the ingenuity of Vermonters, and what we already have in place.
Its a precious dream we ought to consider.
Take care of Vermonters and their families, first.
Lots of wood that could be heating Vermont homes and benefiting a farmer clearing his sugarbush.