Saturday, May 1, 2010

The oil price we pay for growth








The chart on the left is oil price, the chart on the right oil imports. We imported about 5% more oil for the 3% reported growth in first quarter 2010. Both charts show an upswing for that quarter.
Data sources: OilPrice from Oil-Price.net and imports from DOE.

I feel the urge to perform a regression analysis of oil imports on GDP.

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