Peak Oil

Here is something interesting from the Guardian newspaper in England:

The world is much closer to running out of oil than official estimates
admit, according to a whistleblower at the International Energy Agency who claims
it has been deliberately underplaying a looming shortage for fear of triggering
panic buying.

The senior official claims the US has played an influential role in
encouraging the watchdog to underplay the rate of decline from existing oil
fields while overplaying the chances of finding new reserves.

A second senior IEA source, who has now left but was also unwilling to give
his name, said a key rule at the organisation was that it was "imperative not to
anger the Americans" but the fact was that there was not as much oil in the
world as had been admitted. "We have [already] entered the 'peak oil' zone. I
think that the situation is really bad," he added.

Kunstler may well have been right all along.