Monday, November 9, 2009

IEA to Public: You Can't Handle the Truth

An interesting news story this evening from the UK's Guardian newspaper which alleges that the International Energy Agency (IEA) changes forecasts to make them more rosy for oil consumers.  The IEA's annual World Energy Outlook (WEO) is used for energy planning by 30 OECD developed economies and is published tomorrow (Tuesday):
"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..." (UK Guardian)
These are quite grave allegations by the Guardian as to who the IEA works for and to what end. OECD taxpayers fund it.
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