Friday, July 4, 2008

Reporting on IEA Medium Term Oil Report

For those of us that can't afford it, there's a long article in the Financial Times.

In related rumour and speculation I found this one very interesting

I have been told by a reliable source that the IEA has been forbidden by the US administration from updating their absurdly cornucopian oil supply and demand scenarios until the report that comes out late this year (after the election); that report, which will publish the result of a "bottom-up" analysis (ie a summary of all existing oil fields, their production and/or prospects) is expected to show that oil production is unlikely to reach the levels that so many have blithely assumed - notably on the basis of previous optimistic IEA reports.

Hat-tip: Andrew Sullivan

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