Businesses Boost Efficiency to Cope With Energy Prices, Journal Says

espite oil prices near record highs, increased energy efficiency has helped U.S. businesses grow and the economy remain healthy, the Wall Street Journal reported Tuesday.

The paper said the economy’s 3.8% growth in the fourth quarter underscored how the country had retooled since the oil price shocks of the early 1970s.

The amount of oil and gas needed to produce one dollar of economic growth fell by 55% between 1973 and 2003, the Journal said in a front-page story.