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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 362.32-1.8%Nov 4 4:00 PM EST
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To: elmatador who wrote (36069)6/25/2008 8:10:29 PM
From: Wyätt Gwyön  Read Replies (4) of 217542
 
"At $135 per barrel, the U.S. will spend $1 trillion per year on oil, which is equal to 15 percent of the $6.8 trillion in take-home pay of everyone who pays taxes."

that is misleading. it's not like all US oil consumption is paid out of disposable personal income. think of all spending by local, state and federal govts, as well as corporations. more reasonably, one could look at oil consumption as a percentage of GDP. at $130, consumption is 6.5% of GDP according to Deffeyes.
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