The Energy Crunch Is Starting To Bite

Gas is more expensive since the Strait of Hormuz closed.

But life goes on. People are still driving, and oil prices, while up, are not spiking as they did in past energy crises.

One might be tempted to call this latest disruption a non-event.

But one would be wrong.

The impact on the broader economy has been muted so far because, when the war began, th…