The US GDP is about 14 trillion dollars.
We use 7.6 billion barrels of oil per year.
At $20 a barrel ( price for late 80s and 90s til about 2002 ) thats about 1% of our GDP.
At $70 a barrel ( todays price ) thats about 3.5% of our GDP.
At $138 a barrel ( 2008 peak ) thats about 7% of our GDP.
Think that works out well for us long term?
How long til we transfer all of our wealth to the oil producers?