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The problem with an analysis such as this is that the US Economy is not a closed system. If you look at this graph:
May 05 10:49 am
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All Comments by Joules Burn »Our Energy Efficient Economy Can Handle $112 Oil [View article]
www.geocities.com/Wall...
you will see that the percentage of the GDP that is manufacturing has gone down by about half. What does this mean? Quite simply, China is doing a lot of our energy-intensive manufacturing -- and using their energy to do it.