Analysts say the U.S. economy is very different than it was in the 1970s, when surging oil prices tipped the economy into recession
The latest drone strikes on Saudi Arabian oil-production facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say.
While the total impact of the Saturday attacks remains unknown, analysts say the U.S. economy is very different than it was in the 1970s, when surging oil prices tipped the economy into recession. Oil-price shocks no longer pack the same punch, they say.
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