29 February 2012

Energy and Global GDP

Ed Morse of Citi writes a sobering commentary on oil prices in the Financial Times, and includes this comment:
The biggest problems, however, appear to lie in the impact of prices on the global economy. From a global perspective, total energy costs are about 10 per cent of global gross domestic product, a level last seen in the late 1970s. In the US, oil costs are above 4.5 per cent of GDP and for the world as a whole oil spending is 5.4 per cent of GDP, both creeping up to the record world level of 7.3 per cent.
Does anyone have a time series of world energy costs vs. GDP?


Mark B. said...

When I click on the graph, it comes up over a black background - impossible to read the axes.

Roger Pielke, Jr. said...

-1-Mark B.

1987 to 2012
0 to $140

Roger Pielke, Jr. said...

also try this:


Tom said...

Hmm. That's a really quick jump. I had it at 8% of GDP in 2010, IIRC. Mark somebody or other at a Rockefeller institution in Manhattan was publishing regularly on this. I'll check and get back to you.

Tom said...

Spoilt for choice...


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