Comment 81274

By Plainfield (anonymous) | Posted September 26, 2012 at 14:03:32

“…you can draw a straight line between oil consumption and gross-domestic-product growth. The more oil we burn, the faster the global economy grows. On average over the last four decades, a 1 percent bump in world oil consumption has led to a 2 percent increase in global GDP. That means if GDP increased 4 percent a year -- as it often did before the 2008 recession -- oil consumption was increasing by 2 percent a year.”

http://www.bloomberg.com/news/2012-09-23/how-high-oil-prices-will-permanently-cap-economic-growth.html

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