, Geslinger, is not the first person to compare semiconductors to oil. But his remarks take on increased salience because crude oil prices jumped this year due, in part, to the Russia-Ukraine war and fears of supply disruptions.
It's the latest instance of geopolitical tensions leading to elevated fuel prices and, in turn, concerns about their impact on American consumers. It's happened before, such as in the energy crisis of the 1970s. Geslinger expressed concern for the humanitarian consequences of Russia's attack on Ukraine, while also pointing to economic implications.
"While the Russia-Ukraine situation isn't central to any of the supply chains for semiconductors, it just reinforces the geopolitical instability and the urgency around building supply chains that are geographically balanced — U.S., Europe and Asia — and far more resilient for the digital future," he said.
"Everything digital runs on semiconductors, and it is just essential that we build these fabs where we want them."
Sounds like something Trump said 5 years ago, hmmm. This CEO maybe a slow learner, but at least he's learning.
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