Add Axios as your preferred source to
see more of our stories on Google.
The U.S. has a key advantage in weathering the Iran war-triggered energy shock that was missing in previous episodes of overseas tumult: an economy that has become substantially less energy-intensive.
Why it matters: Higher prices at the gasoline pump, for jet fuel and for diesel will no doubt hurt. But in relative terms, both the average household and the economy as a whole have more capacity to weather the hit than in the past.
The big picture: Over recent decades, the share of U.S. economic activity has increased in service industries that demand less energy. And the sectors that do require large-scale energy resources have become more efficient.
