We have already entered peak oil,' IEA source reportedly claims

We have already entered peak oil,' IEA source reportedly claims

rawstory.com

Two International Energy Agency whistleblowers have come forward with startling claims about the world's supply of crude oil, according to a report published Tuesday.

"We have [already] entered the 'peak oil' zone," an unnamed former IEA official told British newspaper The Guardian. "I think that the situation is really bad."

A second whistleblower reportedly claimed that the IEA's current figures are inflated due to pressure from the United States and a pervasive fear that the announcement of falling oil output in the future could cause markets to respond with panic.

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I would not be surprised at all to learn that there is some truth to this story . Even if this report is true I have the feeling that big oil companies will milk us to the very last drop before an alternative energy source is produced in a meaningful way .

One of the biggest problems regarding the whole oil issue is just how much of the US monetary system is based on oil .

One thing is for sure , we live in very interesting times .

rawstory.com
(visit the link for the full news article)

www.moneyweek.com...

Another supporting article to Peak Oil. Its anyone's best guess when we hit Peak Oil production.

The US should invest in alternative fuels full force. Its time to stave off the oil barons.

Next up... the dwindling supply of steel.