Oil, US GDP… FT – Commodity Research Group

January 11, 2020 by Jim Colburn Leave a Comment

Gillian Tett, Financial Times, has a nice piece on the energy piece of GDP in the US, here…

“There is a second, less-heralded factor at play: the energy intensity of American growth has been declining sharply in recent years. A striking chart compiled by Torsten Slok, a Deutsche Bank economist, illustrates the point. If you take 1973 as the baseline, Mr Slok calculates that the amount of petroleum products consumed per unit of real gross domestic product fell 50 per cent in the following quarter century.”

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