Yesterday at 11:37am  December 9, 2015  Walter Haugen

Here is a quote from my first book:
“In 2008, oil prices reached 7.5% of GDP in the US and triggered a major demand reduction. In 2010, Deutsche Bank predicted the next oil shock will come at 6.5% of GDP, which reflects their assessment of an increasing sensitivity to oil prices. As I write this in 2012, the price of oil is approximately 5% of US GDP.”

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