Asian Spectator

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US is less prone to oil price shocks than in past decades

  • Written by Amy Myers Jaffe, Director, Energy, Climate Justice, and Sustainability Lab, and Research Professor, New York University; Tufts University
US is less prone to oil price shocks than in past decadesGas prices are up, but other forces may limit the economic harm to the U.S.Frederic J. Brown/AFP via Getty Images

Oil is a global market, so when prices rise in one place, they rise everywhere. The current war against Iran has already raised oil prices significantly.

Mideast oil production has been slowed by efforts to close the Strait of Hormuz, a...

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