Is the IEA downplaying peak-oil?
sduford on Nov 11 2009 at 4:10 pm | Filed under: Politics
An IEA whistleblower says that the organization is downplaying the peak-oil situation to avoid panic in the markets.
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.
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.
The allegations raise serious questions about the accuracy of the organisation’s latest World Energy Outlook on oil demand and supply to be published tomorrow – which is used by the British and many other governments to help guide their wider energy and climate change policies.
Read more:
Key oil figures were distorted by US pressure, says whistleblower
Too fearful to publicise peak oil reality
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