at least when it comes to the forecasts of the International Energy Agency (IEA). Their widely respected forecasts have been based on the demand for energy; they assumed that the supply was close to infinite in that it could always meet demand. Now, the situation has changed so much that they are embarking on a major study to analyze the supply of oil.
I suppose that their reliance on demand made sense for a fair period of time. But, when you have Saudi Arabia and other countries unwilling to reveal their reserves and the only output numbers come from a small consulting company over a grocery store in Geneva that looks at shipment of oil by tankers, I'd say it's about time that the IEA started looking at both demand and supply.
No comments:
Post a Comment