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Tag Archives: oil consumption
The world’s weird self-organizing economy
Why is it so difficult to make accurate long-term economic forecasts for the world economy? There are many separate countries involved, each with a self-organizing economy made up of businesses, consumers, governments, and laws. These individual economies together create a … Continue reading
Oil Limits Reduce GDP Growth; Unwinding QE a Problem
We know the world economic pattern we have been used to in years past–world population grows, resource usage grows (including energy resources), and debt increases. The economy grows fast enough that paying an interest rate a little higher than the … Continue reading
Posted in Financial Implications
Tagged GDP growth, oil consumption, oil prices, quantitative easing, recession
267 Comments
Why is US Oil Consumption Lower? Better Gasoline Mileage?
United States oil consumption in 2012 will be about 4.7 million barrels a day, or 20%, lower than it would have been, if the pre-2005 trend in oil consumption growth of 1.5% per year had continued. This drop in consumption … Continue reading
How much oil growth do we need to support world GDP growth?
A few days ago, I showed the close relationship between growth in world oil consumption and growth in world GDP. In this post, I will extend that analysis by building a model that shows how much of an increase in … Continue reading
Evidence that Oil Limits are Leading to Declining Economic Growth
The usual assumption that economists, financial planners, and actuaries make is that future real GDP growth can be expected to be fairly similar to the average past growth rate for some historical time period. This assumption can take a number … Continue reading
Posted in Financial Implications
Tagged employment, GDP, GDP growth, oil consumption, oil supply, peak oil, real GDP
56 Comments
