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States News

The Hindu

States / The Hindu

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Lessons from the 1970s help U.S. and global economies absorb oil shocks

Economies are less vulnerable now than they were when a similar war in West Asia drove up fuel prices, triggering stagflation in the 1970s; decades of reforms have improved efficiency, cut reliance on West Asian oil, built reserves, and expanded alternative energy, but oil is still king, say experts

13 Apr 2026 11:11 am