Panic warning as oil supplies run low
World News • November 2009 • Views: 444
The world is much closer to running out of oil than official estimates admit, says a whistleblower at the International Energy Agency who charges it has been underplaying a looming shortage for fear of triggering panic buying.
The senior official says the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the prospects of new reserves.
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