by Calculated Risk on 4/11/2005 04:50:00 AM

My most recent post on Angry Bear, Oil: The Impact on the US Economy, is now up.

On the following graph, I plotted total oil consumption and imported oil consumption as a % of GDP. The plot for imported oil is slightly different than from my previous post (if you have a microscope!).


Click on graph for larger image.

The reason for the difference is I used different data sources. For this post, I used the DOE's data and for the previous post, I used the Census Bureau's trade data. They were very close, but I was able to plot a longer time series with the DOE's data.

I did not discuss peak oil in this analysis. That is a separate topic. I tried to stick to the question of the immediate impact on the US economy of the current price of oil.

Best Regards to All! And thanks for all the comments.