The energy squeeze behind the Iran war and AI boom

Energy — whether it be oil for cars or power for data centers — is suddenly the world's biggest constraint. Why it matters: Energy is becoming the singular driver of both global stability and economic growth. Oil shocks from the Iran war are rippling through inflation and geopolitics. The AI boom is triggering a global race for electricity that grids aren't ready for. The big picture: Energy is the thing we all need but don't notice until it's gone or expensive. We're confronting both unprecedented scarcity and demand for energy on a timeline that's considered remarkably sudden for the usually slow-moving energy sector. Driving the news : Higher oil prices fueled by the Iran war are the main driver behind inflation, with the Consumer Price Index rising 3.8% in April, new data out this week shows. Higher energy prices accounted for the bulk of the increase between March and April, Axios' Courtenay Brown reported . Compared with the same period a year ago, energy costs are up 18%. Meanwh