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World oil reserves may be less than officials say

November 11th, 2009 · No Comments

Green Right Now Reports

The world is running out of oil faster than the “official” report from the International Energy Agency suggests, according to an exclusive news report in the UK’s Guardian.

Whistleblowers, one inside the agency and one who has left the agency, say that the IEA has been downplaying the coming shortage of oil for fear of triggering a panic.

Further, the whistleblower still employed by the IEA (described as a “senior official” who wished to remain anonymous), says that the agency’s reluctance to come clean about oil supplies has been the result of pressure from the United States.

These allegations raise questions about the IEA’s prediction that oil production could be raised from its current level of 83 million barrels a day to 105 million barrels a day to meet increasing demand expected as the world comes out of the recession.

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