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Energy and Economy
Energy Modelling Lab.Department of Energy Studies,
Energy Systems Division, Ajou University Prof. Suduk Kim
A Look at Short-Run Economic Fluctuations
Recession and Oil Price
Source: http://www.wtrg.com/prices.htm
A Look at Short-Run Economic Fluctuations
A Look at Short-Run Economic Fluctuations
Crude Oil Price: Historical Trend
Crude Oil Price Fluctuation
Source: http://www.wtrg.com/prices.htm
China Coal Impact – 30% production reduction
Crude Oil Price Fluctuation (1970-2010)
Source: http://www.wtrg.com/prices.htm
China Coal Impact – 30% production reduction
OPEC Production & Crude Oil Prices
Source: http://www.wtrg.com/prices.htm
Non-OPEC Production & Crude Oil Prices
Source: http://www.wtrg.com/prices.htm
U.S. Petroleum Consumption
Source: http://www.wtrg.com/prices.htm
Gold and Oil Prices Historical Relationship
Source: The Underlying Causes of Oil Price Fluctuations,
Figure 1 The Circular-Flow Diagram
GDP and Its Components
Copyright©2004 South-Western
Real and Nominal GDP
Copyright©2004 South-Western
GDP, Life Expectancy, and Literacy
Copyright©2004 South-Western
The Typical Basket of Goods and Services
Two Measures of Inflation
Growth and Investment
The Variety of Growth Experiences
Copyright©2004 South-Western
The U.S. Government Debt
The Breakdown of the Population in 2001
Unemployment Rate since 1960
U.S. Real GDP Growth since 1900
An Adverse Shift in Aggregate Supply
Accommodating an Adverse Shift in Aggregate Supply
Energy & Economy
Energy & Economy
Future Energy Path?
Future Energy Price? (2002 $ per barrel)
Oil Price Forecasting
Energy & Economy
