Published on rabble.ca (http://rabble.ca)

Oil supply projections changed in response to political pressure

By Doug
Created Nov 9 2009 - 7:22pm

The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying. [1]

The senior official claims the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the chances of finding new reserves. [1]

 

Gee, thanks. How is anyone supposed to make good decisions about energy if the available figures have been fudged?

Comments

Submitted by Fidel on November 10, 2009 - 1:44am.

The herds at oil exchanges in London, New York, and Atlanta should panic any time soon then. BUY! BUY! BUY!

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Source URL (retrieved on May 27 2012 - 9:56am): http://rabble.ca/babble/international-news-and-politics/oil-supply-projections-changed-response-political-pressure

Links:
[1] http://www.guardian.co.uk/environment/2009/nov/09/peak-oil-international-energy-agency
[2] http://rabble.ca/print/babble/international-news-and-politics/oil-supply-projections-changed-response-political-pressure#comment-1082332
[3] http://rabble.ca/user
[4] http://rabble.ca/user/register