On the Second Day of Christmas
Posted in Resources, Standards of Living on Dec 26th, 2009
We are spending more of our income on energy today than ever before, right? Wrong! Even allowing for the inflation / commodities boom preceding this recession, energy expenditures make up about 2.7% of GDP. I plotted data back to 1929. Our energy expenditures peaked, as a share of GDP, in the depths of the Depression […]
