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

Americans face calls to cut their energy usage as Iran war drags on. Good luck with that.

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.