IEA oil figures questioned

Posted by Oilism.com on November 13th, 2009 at 06:10pm

Oil price: Prevent panic buyingThis suggested by a whistleblower of the International Energy Agency (IEA) in an interview in British newspaper The Guardian. The IEA calculates the threat of deficits to low, in order to avoid panic buying of specific levels of the price for a barrel of crude oil.

U.S.

According to a senior member of the IEA, the U.S. played an important role in encouraging the IEA to adjust the levels of existing oil fields are pumped to underestimated, while the chances of finding new fields would be overestimated.World Energy OutlookThe allegations of the IEA-employee raises questions about the correctness of the World Energy Outlook from the IEA’s demand and supply of oil. Many governments base their policies on this.Peak oilIn the most recent World Economic Outlook predicted that oil production will rise from the current level of 83 million barrels per day to 105 million barrels. Critics have often argued that this is not possible and that the world has a peak in oil production is passed.The World Energy Outlook from the International Energy Agency is used in the energy policies of many Western countries. It is considered the most reliable source for data on energy. Nevertheless, for years criticized the way the IEA forecast is about the oil.In several international newspapers today a message from the British newspaper The Guardian accepted that an anonymous member of the International Energy Agency criticized  strongly the way the oil institute figures bring out. The employee claimed that this exaggerated proposed to prevent panic in the oil market.The piece in The Guardian is a repetition of rumors that reverberate for years.That the criticism is to give the figures of the IEA is not dependent on just anonymous whistleblowers.Last year the weblog Oildrum published an analysis to the data behind the World Energy Outlook 2008 and came to the conclusion that it is necessary to note the way the investigators of the IEA use data into their conclusions.Also this year Oildrum will take a closer look into the World Energy Outlook 2009.Both our own research and that such a group of British universities of the UKERC come to different conclusions as the International Energy Agency, raises the question whether it is wise to the figures of the IEA to use some support for our energy.

Under Crude oil+ energy prices