Whistleblowers Warn ‘We Have Entered the Peak Oil Zone’

November 10, 2009

(ChattahBox)—Previous predictions of the International Energy Agency (IEA) have suggested that global oil supplies could reach peak oil output within 20 years. But the alarming revelations of two IEA whistleblowers say dwindling oil supplies have already reached peak oil levels, which would soon set off a global energy crunch leading to a further global economic meltdown.

One whistleblower told the British newspaper The Guardian, that “We have entered the peak oil zone.” “I think that the situation is really bad.”

A second whistleblower claims that the true nature of the dwindling oil supplies are being hidden from the public to prevent a panic, under pressure from the United States.

“Many inside the organisation believe that maintaining oil supplies at even 90m to 95m barrels a day would be impossible but there are fears that panic could spread on the financial markets if the figures were brought down further,” one of the IEA sources reportedly told the paper. “And the Americans fear the end of oil supremacy because it would threaten their power over access to oil resources.”

However, the IEA plans to release on Tuesday, it’s annual “World Energy Outlook” report for 2009, and the report maintains that there are sufficient crude oil resources to meet global demand, according to Reuters.

Raw Story has more.


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