Impact on GDP for Every $10 Price Hike in Oil

Folks, the following graph illustrates that for every $10 increase in crude prices, cuts U.S. GDP by approximately 1%, which is worst than anyone else.  Since October of 2011, crude oil as increased by $32/barrel, or 42%.  On an annualized basis, that equates out to 100%.  To say the least, this is not good for the economy going forward into 2012, which correspondence to my bearish forecast for this year.