Monday, December 7, 2009

No surprise

Allegations of Inflated Production Estimates

The IEA has been criticized for allegedly inflating estimates of global oil reserves. Proponents of the Peak Oil hypothesis in particular have charged that the agency's published estimates are unrealistic and, in fact, they often have been subsequently revised downward. In November 2009, an unnamed "senior official" stated that the IEA consistently over-estimated global oil supply in response to pressure from the United States government.

source

Just doing a little bit of background on who the IEA is since I had to read an article for earth science. That last sentence from Wikipedia does not at all surprise me. IN fact, when I read that they had overestimated the amount of oil production, I had a feeling it had something to do with this country and our government. Sadly I was right.

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