The IMF World Economic Outlook produced a long-term real price chart of commodities by sector since the 1970's. Energy has been the most volatile sector and has seen the greatest increases in real returns. The global economy runs on oil and refined products. There has not been enough innovation in the energy area. There may also be a lac of investment especially by state companies that control most of the oil. Metals have seen a strong gain in the last decade but real prices have not changed since 1970. The metals sector includes gold where demand has been driven by inflation expectations and the fear of fiat money. Food and raw materials have been on a slow slide since 1970. This is the area which may have seen the most innovation. New genetic seeds have been a boon to the farm sector and has helped to make food cheaper to many in poverty.
The super cycle has really just been a big explosion in energy prices and to a lesser extent metals.
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