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A measure taking account of the evolution over time of the rich countries' per capita income has crude oil prices well below the adjusted record. G7 per capita income is now sufficient to buy 456 barrels of crude oil, well above the 320 to 350 barrels between 1980 and 1982.

Huh!? What sense does this make? If you look at GDP, shouldn't change in per capita oil use also be taken into account? As in, driving larger cars and getting more stuff transported on trucks and ocean-going ships?

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Mon Oct 29th, 2007 at 03:28:13 PM EST
[ Parent ]
Then have a look at the share of GDP spent on oil. That's pretty easy to do with Sweden, as all oil is imported.

You only have to know the price of oil, the amount of imports and the GDP at any given time.

Speaking very roughly nad back-of-the-hand, the share of GDP spent on oil imports in Sweden should be somewhere between 1/8 and 1/4 compared to back in the 70's.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Mon Oct 29th, 2007 at 04:47:09 PM EST
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