Stories tagged with christmas
The Oil of Christmas Future....
Posted by Nate Hagens on December 25, 2007 - 5:21pm
Topic: Demand/Consumption
Tags: christmas, retail, shopping, solar-powered reindeer sleigh [list all tags]
In the last 9 years, holiday retail sales have increased 50% to $475 billion, a decent chunk of a $13 trillion total GDP. As we've discussed (in detail!) here over the past 2 years, oil is the lifeblood of our transportation system, and thus our economy. Below is a short Christmas post showing the trend of holiday sales, US oil production and US oil imports.
THE OIL OF CHRISTMAS PAST
US Holiday retail sales in Billions $ (left scale) (Source 1999-2006, Source 2007 estimate- National Retail Federation) plotted vs US domestic crude oil production (right scale) (1999 thru 9/2007 then extrapolated - Source - EIA) Click to enlarge
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