Whistleblower: World Running Out of Oil Faster Than IEA Says : Gas 2.0

Whistleblower: World Running Out of Oil Faster Than IEA Says : Gas 2.0: "According to two unnamed sources as reported in the Guardian—one current International Energy Agency (IEA) employee and one former—the IEA has been purposely painting an overly rosy picture of the remaining available world oil supplies to avoid panicking the public. Apparently this obfuscation has been a result of heavy pressure from the United States.

As one whistleblower put it, “Many inside the [IEA] believe that maintaining oil supplies at even 90m to 95m barrels a day would be impossible but there are fears that panic could spread on the financial markets if the figures were brought down further. And the Americans fear the end of oil supremacy because it would threaten their power over access to oil resources.”

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The IEA plays a key role in determining the world’s energy outlook, and, as such, has a large influence on the price of, and demand for, oil. Historically many of the world’s largest governments have used IEA reports as the basis for driving energy and environmental policy.

At the heart of this issue is the looming question of Peak Oil and whether or not we’ve already entered a production decline or if the world can still increase oil production to meet demand into the near future. The IEA has consistently said that the world can increase production through at least 2030, but, according to the whistleblower, the IEA hass held back analysis and data showing that the world may have already entered the decline phase of Peak Oil.

According to another unnamed former IEA employee, while working at the agency it was “imperative not to anger the Americans” and “We have [already] entered the ‘peak oil’ zone” adding, “I think that the situation is really bad.”

Criticism of the IEA’s statistics is not a new phenomenon for sure, but the agency has been facing more and more scrutiny and has been having a hard time answering to its critics. If anything, this merely points out that, regardless of how much oil is actually left on the planet, it doesn’t really matter. We can’t trust any one organization’s outlook and we should be quickly weaning ourselves off of what is likely a finite energy source and could run out soon.

Source: The Guardian"