Monday, October 30, 2006

The oil story:

History of economic growth can be traced with oil consumption levels. All figures are in thousan barrels per day of consumption.


1985 2005
North America 18535 24875
Europe-Eurasia 22235 20350
Asia-Pacific 10464 23957

Russian Decline




















1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

4910 4972 5017 4967 5077 5015 4888 4597 3875 3359 3025 2686 2689 2554 2625 2583 2566 2606 2645 2714 2753






















American Growth




















1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

15726 16281 16665 17283 17325 16988 16713 17033 17236 17719 17725 18309 18621 18917 19519 19701 19649 19761 20033 20732 20655



Gulf War












1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
Kuwait 162 158 153 149 109 72 110 102 124 130 126 139













Asian Financial Crisis










1997 1998 1999 2000 2001






S. Korea 2373 2030 2178 2229 2235



















Pakistan War with India,1971























1969 1970 1971 1972 1973 1974 1975




Pakistan 93 92 87 72 74 79 83




Comparison of economies

If two economies have to be compared, one of the neutral indicators is the oil consumption levels.
(in thousand barrels daily)

Compare India and Brazil










































Year 1965 1966 1967 1968 1969 1970 1971 1972
Brazil 314 344 355 425 471 530 590 675
India 253 283 291 326 394 392 416 448




















































































Year 1973 1974 1975 1976 1977 1978 1979 1980 1981
Brazil 838 907 940 1006 1030 1125 1190 1155 1117
India 474 464 476 502 541 588 633 643 696








Year 1982 1983 1984 1985 1986 1987 1988 1989 1990
Brazil 1129 1089 1093 1116 1211 1242 1271 1292 1274
India 726 765 822 895 943 974 1069 1164 1211

Year 1991 1992 1993 1994 1995 1996 1997
Brazil 1289 1328 1354 1418 1498 1601 1729
India 1233 1296 1313 1413 1580 1700 1828

Year 1998 1999 2000 2001 2002 2003 2004 2005
Brazil 1800 1879 1855 1896 1853 1785 1776 1819
India 1963 2134 2254 2284 2374 2420 2573 2485


The effect of economic reforms in India since 1991 is clearly visible. Also the debt crisis in Brazil in 1980's led to a recession, and the the statistics speak for themselves.