The High Cost of Energy is Leading the Economy into Recession
Energy
is everything. Without energy literally nothing happens. It's easy to
overlook the role of energy in the economy because we often just look at
it as how much we spend on energy as a fraction of total GDP. But that
really is misleading. Because if you take away energy, the GDP doesn't
just contract by that percentage, the GDP disappears.If suddenly there
was no petrol at the pump; if suddenly the lights went out and did not
come back on, the economy would go away. Energy is central to all
economic activity. Up until the last couple of hundred…Read more...http://oilprice.com/Energy/Energy-General/The-High-Cost-of-Energy-is-Leading-the-Economy-into-Recession.html
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