The longer the conflict in the Middle East continues, the deeper the uncertainty about its economic impact. The effects of the war are already showing up in some unusual ways.
You probably already know all about the jet fuel.
Airlines are raising prices and some are now cutting flights because of a spike in jet fuel prices.
But you may not know about the trash bags in South Korea.
Most plastic trash bags are among many items reliant on fossil fuels and derivatives from their refining — including products that usually go to Asia by way of the Strait of Hormuz.
That led to an early run on plastic trash bags in South Korea.
A few weeks ago, the Ministry of Climate, Energy and Environment put out a statement assuring consumers there have been no shortages of plastic bags — despite what several media outlets described as “panic buying.”
But there’s a legal reason for the concern.
For more than 30 years, South Korea has had a law that makes residents use designated government-issued plastic bags of certain sizes to dispose of garbage.
That way, the government can charge for waste disposal based on the amount of trash a household produces.
It’s designed to cut down on waste and reduce what goes into landfills.
Some critics now say it's time to involve more reusable containers as part of trash collection and stop relying on products that may have a vulnerable supply line — like plastic bags.
