Peak Oil

Key oil figures were distorted by US pressure, says whistleblower
Exclusive: Watchdog's estimates of reserves inflated says top official
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.

These forces were in full effect pre the crash when we saw oil spike to crazy levels, post the crash the economy hasn't been able to speculate because demand died off, however the bubble is building again as stimulus money keeps the game spinning and this new info from peak oil concerns from whistleblowers within the IEA remind us that the future of energy is hardly as secure as it has been sold.

Global warming and peak oil should be incentive enough to force a rethink.