Iran War Impacts on Local Economies
As of today – crude oil futures are trading at $111 per barrel and the average price per gallon of gas at the pump in Florida is $4.23. But our dependency on petroleum extends beyond our cars – without oil, our agricultural industry would collapse. Andrew Johnson, an Associate Lecturer of Supply Chain and Operations Management at UCF, predicts Floridians will see impacts from the war in Iran in the housing and construction industries as well. Johnson also sees cost increases across the agricultural, pharmaceutical and construction sectors as well.
Beyond the consumer economy, Central Florida’s manufacturing community is preparing to see costs increase – from materials to operations to shipping – the impact will be multi-dimensional for businesses like Lakeland’s Industrial Plastic Systems – a producer of tanks, pipes and ducts for plumbing applications. Their products are primarily made from fiberglass, which is problematic, according to IPS’s president, Michael Brown.
The pharmaceutical industry is not immune to these market forces – petroleum plays an large role in the manufacturing of the drugs in our medicine cabinets – specifically the low-cost generic drugs favored by most insurance carriers.
Amarjit Kaur is the owner, the owner and lead pharmacist at Harrison’s Pharmacy – an independent business on Curry Ford Road in Orlando employing four people.
Low-cost generic drugs make up 90% of Harrison’s Pharmacy’s business, and Kaur is already seeing increases of up to seven percent on wholesale drug costs and additional shipping charges are being assessed to compensate for gas and diesel prices.
Additionally, Kaur explains that the elements that make up the drugs, active pharmaceutical ingredients, called API’s, are also products of petroleum.
Artemis II Successfully Launches
Space history was made on Wednesday as humans launched the first crewed mission to the moon in over fifty years. The Artemis II rocket is carrying four astronauts in the Orion spacecraft to orbit the moon and return, setting the stage for a broader lunar program and, eventually, Martian missions. Brendan Byrne, host of Central Florida Public Media’s “Are We There Yet?” podcast provides a walkthrough of the launch and what to expect for the rest of the mission.
Pet Alliance Opens New Shelter
Five years ago, the Pet Alliance of Greater Orlando lost their shelter to a late-night fire that took the lives of several sheltered animals. This past weekend, the Alliance opened The Kylie J. Capri Campus and Edward H. Hensley Adoption Center on South John Young Parkway to provide abandoned cats and dogs with a second chance. Engage stops by meet the operators, the adopters and the animals.
Florida Sumo
Tucked away in a small industrial business complex west of downtown Orlando is the Shindai Dojo – home of Florida Sumo. These wrestlers meet to preserve the legacy and honor of Sumo Wrestling – the thousand year old Japanese tradition that is finding more and more enthusiasts in the US. Engage stops by to meet Alex Santana, head of the Orlando chapter.
