Sunday, January 30, 2011

Oil and Food Prices: Sometimes Correlation Does Imply Causation

The volume of petrochemical inputs into our current methods of agriculture are stunning.
Then, when the stuff is grown, it has to be shipped.
Oil = Food.
(and no, the headline is not "cum hoc ergo propter hoc")
From Paul

...The thing that stunned me was the closeness of the correlation.  For you math geeks, the correlation coefficient of the two data sets is 0.93!...

HT: Famland LP's post:
Oil and Food Prices

Several years ago National Geographic magazine published an article on oil that included a stunning photo of mature steer and the barrels of oil needed to grow an animal to that size.  I recently went looking for that picture, found it, and post it here because it hasn’t lost its impact or relevance one bit....