Oil???money???

Question

about how much money would you say that the world (or U.S., if u dont know world) spends on oil in a year??? i would greatly appreciate some feedback peeps =p

Answer 1

Link below is to a great chart showing world oil expenditures as a percentage of World GDP.  In 2007, about 4% of World GDP went to oil spending.  World GDP is about $66 trillion, so in 2007, the world spent about $2.64 trillion on oil.

The forecase for 2008 is that we'll double oil spend to almost 8% of World GDP, or more than $5 trillion dollars.

Scary stuff.