• About

Energy Security

~ At the Intersection of Energy, Economics, and Politics

Energy Security

Tag Archives: GDP

Comparison of GDP Produced for Energy Consumed

11 Tuesday Aug 2015

Posted by V. Markov in Economics

≈ Leave a comment

Tags

China, egypt, energy efficiency, energy intensity, GDP, Germany, iran, norway, oil, qatar, russia, saudi arabia, UAE, US, USA

GDP Produced

Using World Bank GDP data and BP primary energy consumption statistics, this chart shows the energy efficiency of select countries, in terms of GDP produced for each barrel of oil equivalent consumed. Among all Gulf countries, Iran performs the worst on this metric, largely a result of inefficient industries, partly a result of the sanctions regime, and heavy subsidization of energy consumption up to 2010 and the slow phase out of subsidies until 2015. In contrast, the low energy consumption, relative to GDP, of the US, Germany, and Norway portray lowering energy intensity as economies shift towards service industries.

Oil Multiplier

19 Sunday Jul 2015

Posted by V. Markov in Graphics, Oil, United States

≈ Leave a comment

Tags

1979, 1999, GDP, oil, oil intensity, tech boom, united states, US

Multiplier

A quick post, this graph shows the oil multiplier, or how much each barrel of oil contributes to GDP as a multiple of the oil price. To create this graph, the real GDP was divided by yearly consumption to get the contribution of each barrel to GDP. The contribution to GDP was then divided by the real price of oil in 2014 USD to figure out how much each barrel contributes to GDP as a multiple of its price.

The chart shows how the US economy has shifted from industry to services, thus bringing down its oil intensity, while the wide variations reflect the volatility of the price of oil. The peak multiplier of 91.17 is a function of the oil price crash after the Asian financial crisis combined with a quickly growing US economy, especially given the low oil intensity 1990s tech boom.

The 1979 nadir multiple of 9.40 results from the oil price spike following the Iranian Revolution.

Data Sources: St. Louis Fed Real GDP and GDP deflator. Oil consumption statistics from BP Statistical Review 2015.

Follow me on Twitter

My Tweets

Recent Posts

  • US Crude Oil Exports
  • The Impact of Pricing Regulations on Argentina’s Energy Sector
  • Argentina’s Energy Future
  • Colombia’s Hydrocarbon Boom
  • US Gasoline Exports

Categories

  • Algeria (1)
  • Argentina (2)
    • Vaca Muerta (1)
  • Canada (1)
  • Colombia (1)
  • Economics (3)
  • France (1)
  • Future (1)
  • Graphics (3)
  • History (2)
  • Housekeeping (2)
  • Introduction (1)
  • Iran (2)
  • Iraq (1)
  • Natural Gas (7)
    • Fracking (1)
  • Nuclear (1)
  • Oil (13)
    • OPEC (2)
  • Primer (1)
  • United States (8)
    • Exports (2)
    • Keystone (1)
    • Policy (1)
    • Regulations (2)
  • Venezuela (1)

Archives

  • June 2017
  • May 2016
  • April 2016
  • March 2016
  • December 2015
  • August 2015
  • July 2015
  • December 2014
  • June 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • June 2013
  • May 2013
  • April 2013
  • January 2013
  • September 2012

Algeria alternative Argentina Capriles Chavez China climate CNG coal crude Economics electricity energy Energy Independence Energy Infrastructure energy policy Energy Security environment EPCA europe exports fracking France future gas gasoline gazprom GDP Germany Hugo hydraulic fracturing international Introduction IR iran Iraq Italy Kirchner LNG Macri Maduro middle-east natural gas Nixon nuclear oil oil and gas Oil and Gas Developments Oil Crisis OPEC PDVSA pipeline Politics PSUV qatar regulation relations renewable renewables russia saudi arabia security shale Spain state transportation Turkey turkmenistan unconventional unconventional resources united states US USA Vaca Muerta Venezuela

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

Blog at WordPress.com.

Cancel
Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy