economy
Americans face calls to cut their energy usage as Iran war drags on. Good luck with that.
Updated on: March 26, 2026 / 12:16 PM EDT / CBS News
TL;DR
- Economists are advising Americans to reduce oil consumption to mitigate soaring energy prices caused by the Iran war.
- The International Energy Agency (IEA) recommends measures like working from home, driving slower, and carpooling.
- The blockage of the Strait of Hormuz, critical for global oil transport, is a major contributor to the crisis.
- Changing consumer habits is difficult in the U.S. due to a lack of widespread public transportation and the higher cost of electric vehicles.
- Experts suggest that even small changes in driving habits, like reducing speed, can improve fuel efficiency.
- The U.S. Strategic Petroleum Reserve has been tapped, but experts state it's not enough to lower prices to pre-war levels.
- Oil demand is inelastic in the short run, meaning people can't easily stop using it due to few immediate substitutes.