David Moore Jr.

posted by David on Nov 10

Demand for energy will increase by 40 percent between now and 2030, yet an insider at the International Energy Association (IEA) warns that there just isn’t enough oil in the world to supply that need.Presuming alternative energy sources aren’t easily developed or fall short of projections, and new oil production falters, much higher prices are inevitable, as experts including T. Boone Pickens have warned.

Pickens has repeatedly said that $300-a-barrel oil is in our future.

According to the agency’s just-released World Energy Outlook 2009, global oil consumption over the next five years will grow to just 88 million barrels a day, well below the 94 million barrels a day the agency forecast a year ago for total demand in 2015.

The energy watchdog’s figures are overly optimistic, according to a whistleblower within the agency, who describes IEA estimates of remaining oil supplies as more fiction than fact.

Source: http://moneynews.newsmax.com/streettalk/iea_oil_forecast/2009/11/10/284207.html

I guess this means we will see more wars and excuses for wars.