Ed Yardeni, former CEO of the United States Oil Fund (ARCA:USO), has dismissed the threat of an oil price spike amid the Iran War, arguing that it does less damage to the US economy due to structural shifts and efficiency gains that have made it resilient against oil-driven recessions. Yardenic argues that consumers are more resilient due to low energy expenditures and a shift away from manufacturing towards services. He also notes that the U.S. is now a net exporter of petroleum products since 2020, creating a supply-side buffer, but warns that if costs continue to rise, inflation could delay interest rate cuts from the Federal Reserve. Despite the Iran war and the effective closure of the Strait of Hormuz, corporate earnings remain robust.