IEA Whistleblower Claims Agency Has Downplayed Looming Oil Shortage
According to a senior International Energy Agency official, the energy watchdog agency fears the truth would trigger panic buying 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...