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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (39052)	3/26/1999 2:54:00 AM
From: Moominoid	Read Replies (3) \| Respond to of 94695

Haim, if I am recalling this correctly, oil prices are weighted 15% of the PPI. That has to be wrong unless they calculate it pretty weirdly. The value of all energy used as a fraction of GDP in the US was around 7% in 1994. Much of that is electricity. Final use (not counting any used in electricity generation, petrochemicals etc.) of oil was just under 3% of the GDP. So maybe add on 1% of GDP for non-final use. But then the price of crude oil is only a fraction of the cost of final uses. A gallon of crude is currently about 39c (at $16 per barrel). So the value of crude oil as a percent of US GDP is around maybe 1.5%. David