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Here is Stuarts post on the subject.
http://www.theoildrum.com/story/2005/10/22/235239/89
I've got no idea how to find this for the various countries.
The simple calculation is the US is 5% of the population and uses 25% of the worlds oil so we use 5 times the worlds average usage to generate our GDP this is why I said higher energy prices have a 5 fold effect on the US GDP.
Stuart would have to do a better analysis but the magic number is per capita GDP/per capita miles driven. This tells you how the economy can handle higher prices. I contend the US is uniquely venerable since its high per capita GDP is effectively directly equal to the price difference in gasoline vs other western nations.
I think you are saying that it is the US’s tax policy on gasoline that has resulted in a higher GDP for them. Besides that going against basic Economics, you may want to recheck the numbers for Norway, Switzerland or Denmark.
I think he's saying that historically US per capita income (there's no such thing as per capita GDP) is/was higher than in other countries because more gasoline per capita is/was used to obtain it.. And I think he's right.
There is no necessary link to taxation, even though it can be implied.
I don't quite understand what your saying. Cheap gasoline is a major economic stimulant or better intoxicant. Subsidized gasoline combined with higher worldwide prices is one of the major factors in WestTexas export land model. The US is something of a hybrid since it is both a large producer and importer so it or at least parts of the US benefit from high prices. In some ways its better to think of Texas and Louisiana and Alaska as an exporter country to the rest of the US. But since "exporter" wealth tends to simply concentrate its not a strong driver of overall GDP in the US unlike a true exporting country with a National Oil company.
So either I don't agree with your statement or better don't understand it. Cheaper gasoline esp imports tends to increase GDP IMHO. In general the cheaper commodities are the higher the GDP since most of the GDP is in value add not bringing commodities to market.
Norway is unique since its a net exporter with high gasoline taxes. In effect the taxes vs income from exports probably leads to a low effective cost for Norway I don't think you have treated Norway correctly since they make quite a bit off their oil exports.
Denmark I simply don't know.
And the Swiss are well ... Swiss :)
True.
Not quite. Isn't the real comparison the US's consumption versus the average for the rest of the world? (Not "world including the US".)
Let's use the corresponding real numbers:
US: 20.8 million barrels/day divided by 300 million people -> 0.06933 barrels per person per day
Rest of world: 62.4 million barrels/day divided by 5700 million people -> 0.01095 barrels per person per day
(assumed total to make US 5%,25% figures: 83.2 million barrels/day, 6000 million people)
Ratio of US to rest of world: 6.33
The United states uses 6 1/3 times the rest-of-the-world average. So higher energy prices have a "6 1/3-fold" effect, given the 5% and 25% figures.
Okay :)
The point is the US economy is far more sensitive to oil prices then most of the rest of the world. And alternative transportation is a black/white or yes/no type of solution either you have it and can mitigate higher gasoline costs or you do not. The EU and many places in the world do have reasonable alternatives to driving so they can preserve their disposable income at effectively a fixed cost i.e. extra time taken to reach work. Although calling this a cost can be debated you can work on the train etc.
The US cannot. So the twin effects of a 6.33 multiplier and lack of alternatives makes the US uniquely venerable to higher gasoline prices even though the relative price per gallon between the US and the EU is about half. The economic impact as you can see is well over half as oil prices increase. This multiplier effect coupled with lack of mitigation strategies is the problem.
I agree entirely with your main points, I just wanted to point out that it's even worse than 5x!