The whistleblower, who reportedly refused to be identified for fear of reprisals, told the newspaper that: “Many inside the organization believe that maintaining oil supplies at even 90 million to 95 million 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.”
Posts Tagged ‘iea’
Current Energy Plans ‘Unsustainable,’ IEA Says in New Outlook
The International Energy Agency’s new World Energy Outlook details the challenge facing the world: Despite two years of recession, energy use is going to recover and grow dramatically over the next two decades. That’s especially true for electricity and for developing countries.
IEA whistleblower: Oil figures distorted
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.
IEA’s Birol Says Drop in Oil Prices May Halt Project Investment
http://bloomberg.com
By Tara Patel
Dec. 10 (Bloomberg) — A further decline in global oil prices may delay or halt investment in exploration and production projects, according to Fatih Birol, chief economist of the International Energy Agency.
“If prices were to go lower, investments could be delayed or canceled and we would pay the cost in the future,” Birol [...]
IEA: After the credit crunch, the oil crunch: watchdog warns over falling supplies
• World needs to find 64m extra barrels a day by 2030
• Green revolution required to replace fuel sources
