Whistleblower: World Running Out of Oil Faster Than IEA Says

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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.”

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

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Tags: IEA, International Energy Agency, peak oil

About the Author

Nick Chambers Not your traditional car guy.

Carbon Buildup

Nick,

This isn’t surprising. A few weeks ago I went to a presentation by a rep from the Oregon DOE. He presented a very thorough case that concluded that ‘Peak Oil’ was hit or will be hit sometime between 2003 and 2011. He also presented many quotes from leading financiers and senior petroleum geologists that said the same thing. In fact, some of the world’s major oil reservoirs have already declined drastically, particularly Mexico’s gulf reservoir. The only group that appears to be denying “Peak Oil’ are free market economists, because they believe (of course) that higher prices will reduce demand enough to stretch out supplies for a long time. Reasonably, though, this won’t happen unless there are other viable sources of energy.
Carbon Buildup

Nick,

This isn’t surprising. A few weeks ago I went to a presentation by a rep from the Oregon DOE. He presented a very thorough case that concluded that ‘Peak Oil’ was hit or will be hit sometime between 2003 and 2011. He also presented many quotes from leading financiers and senior petroleum geologists that said the same thing. In fact, some of the world’s major oil reservoirs have already declined drastically, particularly Mexico’s gulf reservoir. The only group that appears to be denying “Peak Oil’ are free market economists, because they believe (of course) that higher prices will reduce demand enough to stretch out supplies for a long time. Reasonably, though, this won’t happen unless there are other viable sources of energy.
Brian_N

Nick

Rather than oil running out, its more a case that the energy cost to recover it is too high.

But as one finite energy source peaks, I’d expect we advance the peak date of the next finite resource we move to.

I wonder how this impacts oil from tar sands because they have a huge energy cost.

At a recent UMass Amhurst peak energy presentation, peak natural gas, uranium and even coal were all considered as happening well before 2040.
Brian_N

Nick

Rather than oil running out, its more a case that the energy cost to recover it is too high.

But as one finite energy source peaks, I’d expect we advance the peak date of the next finite resource we move to.

I wonder how this impacts oil from tar sands because they have a huge energy cost.

At a recent UMass Amhurst peak energy presentation, peak natural gas, uranium and even coal were all considered as happening well before 2040.
ChuckL

With the over 40 year supply of oil found in Western Montana and the Dakotas a few years ago, this looks like an Al Gore promotion to let him sell some more “Carbon Credits”
ChuckL

With the over 40 year supply of oil found in Western Montana and the Dakotas a few years ago, this looks like an Al Gore promotion to let him sell some more “Carbon Credits”
http://you-read-it-here-first.com John Bailo

There’s 500 years supply minimum in Alberta shale.
http://you-read-it-here-first.com John Bailo

There’s 500 years supply minimum in Alberta shale.
JJ

ChuckL

Good lordy, thank heavens for that one, we are all saved for another 40 years now aren’t we, I think not!

In the millions of years that the human race has evolved on this earth, while the oil (and coal, gas, peat, uranium….) lay beneath untouched, what does it matter if oil peaked last weak or peaks in the next decades, it is still finite isn’t it?. We will never be able to tap into the last fraction as extraction costs go up dramatically along with the CO2 emissions, it is not like the oil comes out of a convenient underground tank.

Why should we keep gulping oil up as quick as we can, wouldn’t it be better to go down the slope slowly or do you prefer the fastest possible decline and crash? Of course reducing use ASAP would mean switching extensively to renewable energy but that would be just what your Al Gore demon wants so we better do the opposite.
JJ

ChuckL

Good lordy, thank heavens for that one, we are all saved for another 40 years now aren’t we, I think not!

In the millions of years that the human race has evolved on this earth, while the oil (and coal, gas, peat, uranium….) lay beneath untouched, what does it matter if oil peaked last weak or peaks in the next decades, it is still finite isn’t it?. We will never be able to tap into the last fraction as extraction costs go up dramatically along with the CO2 emissions, it is not like the oil comes out of a convenient underground tank.

Why should we keep gulping oil up as quick as we can, wouldn’t it be better to go down the slope slowly or do you prefer the fastest possible decline and crash? Of course reducing use ASAP would mean switching extensively to renewable energy but that would be just what your Al Gore demon wants so we better do the opposite.
ED

“There’s 500 years supply minimum in Alberta shale.”

Even if true, it’s irrelevant. AMOUNT is relevant to “how much oil we have in total” but peak oil asks about something else, what’s the maximum RATE per year of extraction. Shale and tar sands have huge amounts that (in addition to environmental destruction, but even if you ignore that) come out at much much s-l-o-w-e-r rates , not many mbd (millions barrels per day) so not enough to avoid peak (time of and level of,maximum RATE of extraction)

See http://www.energybulletin.net/primer.php
ED

“There’s 500 years supply minimum in Alberta shale.”

Even if true, it’s irrelevant. AMOUNT is relevant to “how much oil we have in total” but peak oil asks about something else, what’s the maximum RATE per year of extraction. Shale and tar sands have huge amounts that (in addition to environmental destruction, but even if you ignore that) come out at much much s-l-o-w-e-r rates , not many mbd (millions barrels per day) so not enough to avoid peak (time of and level of,maximum RATE of extraction)

See http://www.energybulletin.net/primer.php