This Isn’t Your Grandfather’s Oil Crisis
Entertainment
For Americans of a certain vintage, perhaps even the 79-year-old President Donald Trump himself, a Middle East war plus a jump in oil prices triggers a painful muscle memory. As they look with worry at Iran, their minds conjure past scenes of gas lines, odd-even rationing, and a sense that the U.S. economy is one embargo away from stalling out. The temptation is to reach for the 1970s script—this is OPEC all over again!—and to treat higher crude as the opening act of another era of national
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