Key oil figures distorted by US pressure? Peak Oil?

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Key oil figures distorted by US pressure? Peak Oil?

Post by Linnea » 11-14-2009 12:06 PM

..from guardian uk

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.

In particular they question the prediction in the last World Economic Outlook, believed to be repeated again this year, that oil production can be raised from its current level of 83m barrels a day to 105m barrels. External critics have frequently argued that this cannot be substantiated by firm evidence and say the world has already passed its peak in oil production. ... rgy-agency

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Post by Corvid » 11-14-2009 08:24 PM

Reason enough, some think, to go to war in Iraq. T. Boone Pickens figures that the Iraqi oil is OURS! After all (he says), we suffered 5,000 dead and spent a few hundred billion dollars...... "it's ours!".

I don't.

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