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.
The senior official claims the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the chances of finding new reserves.
The allegations raise serious questions about the accuracy of the organisation's latest World Energy Outlook on oil demand and supply to be published tomorrow – which is used by the British and many other governments to help guide their wider energy and climate change policies.
One of the interesting conspiracy theories about global warming is that it is being used to try and keep poorer countries from developing... because we are running out of oil. The more poorer nations develop, the more oil we need. As you can see from the graph in the article, they dont predict much more oil supply in the future. You can see the graph of production of current oil reserves drops dramatically from now on. The US gets about 15% of its oil from mexico.. within a decade though, they expect to need to import oil, and will not export oil at all. There is nowhere else for us to get that oil.
Oil is the most valuable resource, and it is getting scarce. Anyway, some argue that climate change is just a conveniently timed cover for peak oil. no way to know for sure though.
What would powerful countries do, if they knew that the resource that drove the world was running low? The population of the world is only as high as it is due to oil. We absolutely cannot support the worlds population without it. Kind of makes you think that 'people' will suddenly become a liability, and not a resource, to those with money and power in the near future...
peak oil is just one problem. You have peak natural gas, and peak water, ive heard of peak helium (used in computer chips or something like that) Many resources are peaking. The old days of finding huge copper deposits or whatever mineral are long gone. We now have to do more work to claim the same amount of minerals. Water is the next big resource like oil. Everyone needs it, and we have already used up all the capacity we have. How do we support population growth without rationing water? And without population growth, the ponzi scheme of social security and retirements do not work, as I see it.