{"id":2513,"date":"2011-12-04T19:37:01","date_gmt":"2011-12-05T00:37:01","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=2513"},"modified":"2011-12-04T19:37:01","modified_gmt":"2011-12-05T00:37:01","slug":"the-oil-drum-is-it-really-possible-to-decouple-gdp-growth-from-energy-growth","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/04\/the-oil-drum-is-it-really-possible-to-decouple-gdp-growth-from-energy-growth\/","title":{"rendered":"The Oil Drum | Is It Really Possible to Decouple GDP Growth from Energy Growth?"},"content":{"rendered":"<p>Prior to 2000, world real GDP (based on USDA Economic Research Institute data) was indeed growing faster than energy use, as measured by BP Statistical Data&#8230;&#8230; Since 2000, energy use has grown approximately as fast as world real GDP\u2013increases for both have averaged about 2.5% per year growth. This is not what we have been told to expect.<\/p>\n<p>Why should this \u201cefficiency gain\u201d go away after 2000? Many economists are concerned about energy intensity of GDP and like to publicize the fact that for their country, GDP is rising faster than energy consumption. These indications can be deceiving, however. It is easy to reduce the energy intensity of GDP for an individual country by moving the more energy-intensive manufacturing to a country with higher energy intensity of GDP.<\/p>\n<p>What happens when this shell game is over? In total, is the growth in world GDP any less energy intense? The answer since 2000 seems to be \u201cNo\u201d.<\/p>\n<p>It seems to me that at least part of the issue is declining energy return on energy invested (EROI)\u2013we are using an increasing share of energy consumption just to extract and process the energy we use\u2013for example, in \u201cfracking\u201d and in deep water drilling. This higher energy cost is acting to offset efficiency gains.<\/p>\n<p>via <a href=\"http:\/\/www.theoildrum.com\/node\/8615#more\">The Oil Drum | Is It Really Possible to Decouple GDP Growth from Energy Growth?<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prior to 2000, world real GDP (based on USDA Economic Research Institute data) was indeed growing faster than energy use, as measured by BP Statistical Data&#8230;&#8230; Since 2000, energy use has grown approximately as fast as world real GDP\u2013increases for both have averaged about 2.5% per year growth. This is not what we have been &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/04\/the-oil-drum-is-it-really-possible-to-decouple-gdp-growth-from-energy-growth\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Oil Drum | Is It Really Possible to Decouple GDP Growth from Energy Growth?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[1242,1246,1272,1527],"class_list":["post-2513","post","type-post","status-publish","format-standard","hentry","category-gold-commodities","tag-energy-return-on-energy-invested","tag-energy-use","tag-eroi","tag-gdp-growth"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Oil Drum | Is It Really Possible to Decouple GDP Growth from Energy Growth? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Oil Drum | Is It Really Possible to Decouple GDP Growth from Energy Growth? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Prior to 2000, world real GDP (based on USDA Economic Research Institute data) was indeed growing faster than energy use, as measured by BP Statistical Data&#8230;&#8230; Since 2000, energy use has grown approximately as fast as world real GDP\u2013increases for both have averaged about 2.5% per year growth. 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The S&P 500 is testing resistance at 4900 -- a new high for the index. Trend Index troughs above zero signal strong buying pressure. Expect retracement to test the\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-01-27-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-01-27-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-01-27-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":30923,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/02\/11\/cpi-climbs-while-the-fed-dithers\/","url_meta":{"origin":2513,"position":1},"title":"CPI climbs while the Fed dithers","author":"Colin Twiggs","date":"February 11, 2022","format":false,"excerpt":"CPI continues to climb, recording an increase of 7.48% for the 12 months ended January 2022 -- the highest in almost forty years. Food & Energy Food inflation came in at 6.7% but that is just the start. CPI energy is running at close to 30% p.a. A large component\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-10-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-10-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-10-cpi.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-10-cpi.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":3726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/05\/chinas-growth-model-running-out-of-steam-ft-com\/","url_meta":{"origin":2513,"position":2},"title":"China\u2019s growth model running out of steam &#8211; FT.com","author":"ColinTwiggs","date":"March 5, 2012","format":false,"excerpt":"For the first time in eight years, the Chinese government\u2019s annual growth target has been lowered, to 7.5 per cent GDP growth for all of 2012..... The new number represents Beijing\u2019s recognition that the investment-driven, export-dependent growth model that has propelled it from an impoverished backwater to the world\u2019s second-largest\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4610,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/13\/the-china-driven-commodities-super-cycle-debate-nomura-edition\/","url_meta":{"origin":2513,"position":3},"title":"The China-driven commodities super-cycle debate: Nomura edition","author":"Colin Twiggs","date":"June 13, 2012","format":false,"excerpt":"Nomura: We have performed a detailed analysis of metal intensity of GDP for steel, copper and aluminium in the following pages, which we believe clearly outlines our view that China\u2019s economy is not large enough (in GDP terms) to support a continuation of the rapid growth in metal consumption seen\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43480,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/08\/17\/the-elephant-in-the-room\/","url_meta":{"origin":2513,"position":4},"title":"The Elephant in the Room","author":"Colin Twiggs","date":"August 17, 2023","format":false,"excerpt":"The 10-Year Treasury yield broke through resistance at 4.25%, signaling a fresh advance. Target for the advance is 5.25% (4.25% plus 1.0%) but first expect retracement to test the new support level. Respect would confirm the breakout. The Russell 2000 Small Caps ETF broke support at 190, warning of a\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"10-Year Treasury Yield","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-16-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-16-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-16-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":59679,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/12\/05\/australia-rba-unlikely-to-play-santa\/","url_meta":{"origin":2513,"position":5},"title":"Australia: RBA unlikely to play Santa","author":"Colin Twiggs","date":"December 5, 2024","format":false,"excerpt":"Despite the chorus of pleas from interest groups, the RBA is unlikely to deliver an early rate cut. Strong government spending prevents the slide into recession and increases upward pressure on prices. The ASX 200 also remains in a strong uptrend. ASX Stocks Australia's ASX 200 is testing resistance at\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-05-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-05-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-05-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2513"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2513\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}