IEA using overinflated oil reserve numbers -- peak oil already here

[Lindon]

I ran across this article quoting a "senior IEA official" who claims that "key oil figures were distorted by US pressure" to hide the fact that there are significantly lower oil reserves available than has been officially reported.

If we can believe the whistleblower, peak oil has already come and gone, and the only reason there isn't panic buying and economic turmoil in the market right now is because inflated oil production numbers are being used by the IEA.

One might argue that the follow-up logic to this is that WHEN the rest of the world figures out that oil reserves are rapidly running out -- much faster than officially predicted -- then the panic buying and economic turmoil would set in. That could happen tomorrow, next week or at any time.

If that panic buying and economic turmoil were to kick in, then the implications would be severe and might dramatically affect each and every one of us.

Is this conspiracy theory bogus? Do we really have enough oil to more or less comfortably last us long enough for humanity to work out alternative energy sources. Or are we in fact on the brink of a major crash and burn here on planet earth?

Here's the link to the article from the UK Guardian:

http://www.guardian.co.uk/environment/2009/nov/09/peak-oil-international-energy-agency

[realitydesign]

Peak oil has been established and many well known people have been writing and talking about its impending acuity since at least 2003. It's the only reason the US has any interest in IRAQ and IRAN, those two countries along with Saudi Arabia have the largest proven easy reserves left on the planet. Yup, those 3 countries.

I strongly recommend the book 'Crossing the Rubicon, the decline of the american empire at the end of the age of oil' by Michael Ruppert to get a full picture.

Or, 'twilight in the desert'

Or, the 'long emergency'


This whole worldwide economic meltdown you are seeing was kicked off by the oil surges of 2007/2008, they were the straw that broke the camel's back.

[coreybv]

Sheesh...

Over on one side I've got a group of people telling me that oil usage is causing global warming and is going to destroy the world.

Then on the other side there's a group telling me we're running out of oil, and that's going to destroy the world.

Then there are the ones who tell me that buying foreign oil is funding terrorists, and that's going to destroy the world.

I get the feeling that I'm expected to be freaking out about something, but I'm just not sure I have the energy to figure out what...

[realitydesign]

Sheesh...

Over on one side I've got a group of people telling me that oil usage is causing global warming and is going to destroy the world.

Then on the other side there's a group telling me we're running out of oil, and that's going to destroy the world.

Then there are the ones who tell me that buying foreign oil is funding terrorists, and that's going to destroy the world.

I get the feeling that I'm expected to be freaking out about something, but I'm just not sure I have the energy to figure out what...

Many planets are heating up right now in our system, so unless they are cruising around in SUVs, you can rest assured AL Gore is trying to make some cash!

:)

The oil money is going to terrorist organizations- if you mean the global oil cartels.
:lol:

[pzkpfw]

A bit too loosely "space and astronomy" related for this forum. Thread closed for moderator discussion.