Whistleblower says US pressure kept IEA from reporting peak oil

November 10th, 2009 by stacyherbert

Stacy Summary:  Well, the US (and other governments) manipulate every other number, so it’s hardly surprising that they would manipulate the oil numbers.  With that, however, I doubt any warning would alter people’s behavior in any meaningful way.  As long as the price at the pump stays cheap, then they will not worry.  And, luckily for these consumers, the cost of using the military to secure these ‘cheap’ reserves is not reflected in the price at the pump.

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.

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