finance
Energy Share of GDP Has Dropped in Recent Decades, Hassett States
Kevin Hassett, director of the National Economic Council, stated that the energy share of GDP has dropped in recent decades. He added that the global economy's ability to recover quickly from higher gas prices is documented. Hassett acknowledged stress from elevated gas prices.
Apr 15, 9:38 AM·1m read1 source
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# Kevin Hassett Addresses Energy Share in GDP Kevin Hassett, director of the National Economic Council, stated that the energy share of GDP has dropped in recent decades. This observation came amid discussions on economic resilience. @axios reported on Hassett's comments.
Hassett serves as the director of the National Economic Council. In his role, he provides economic policy advice. The statements were made in the context of current economic conditions as of April 15, 2026.
stated, "I'm not minimizing the stress that people have for higher gas prices.
" This remark highlights public concerns over energy costs. He emphasized that such stress is recognized in economic analyses. Higher gas prices affect household budgets and transportation expenses. Hassett's comment addresses these direct impacts on individuals.
The statement underscores a balanced view of economic pressures.
stated, "but the ability for our resilient global economy to recover quickly is pretty well documented.
" This points to historical patterns of economic rebound. Documentation of such recoveries includes data from past energy price fluctuations. The global economy has shown resilience in various sectors following disruptions.
Hassett's remarks focus on the speed of recovery post-stress events. @axios reported these details from Hassett's statements.
The drop in the energy share of GDP reflects shifts in economic structure over recent decades.
Energy-intensive industries have declined relative to service sectors. This trend indicates broader efficiency gains and diversification. Hassett's role involves analyzing such macroeconomic indicators.
