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IEA Whistleblower Claims Agency Has Downplayed Looming Oil Shortage

November 12, 2009

From Popular Science

A senior official at the International Energy Agency turned whistleblower just prior to the release of a major IEA report, and claimed that the international organization has downplayed a looming oil shortage to appease the U.S. and prevent panic buying.

The anonymous whistleblower apparently told his story to The Guardian on the eve of the new World Energy Outlook report that went public Tuesday. He alleged that the international watchdog has bowed to U.S. pressure to underplay the decline of existing oil fields and overplay the possibility of tapping new fields.

Outside economists and energy experts have already criticized a figure within the new report that states oil production can grow from 83 million barrels per day to 105 million barrels per day by 2030.

The whistleblower added that the IEA had already dropped its 2030 estimates from 120 million barrels a day to 116 million, and then 105 million. He also said that many IEA members believe maintaining oil supplies at just 90 million or 95 million barrels per day seems impossible.

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