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Politics : Rat's Nest - Chronicles of Collapse
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To: Wharf Rat who wrote (6579)11/4/2007 10:04:38 AM
From: Webster Groves  Read Replies (1) of 24231
 
<Today, the U.S. economy is far less oil dependent than in the past, as improvements in efficiency have allowed us to slash the share of gross domestic product used to pay for oil>

You see this statement all the time - it is totally false. The fact that a larger GNP can be generated from a given fraction spent on oil only means the economic leverage factor is higher, not that the economy is less dependent on oil.

As a counter example, try to name one element of the economy that doesn't depend on oil. The economy is a large inverted pyramid, all balanced on a base of energy, most of which depends on oil (even gas and coal production depends on oil).

wg
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