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: