Ferdinand E. Banks

IEA Report Predicts Oil Supply Crunch

I gave a talk in Paris some time ago, and shortly after received a mail from the Big Boss of the IEA asking me if my head was screwed on right.

He told me that the IEA does not predict production, but only consumption. That's when I caught on: he was an ignoramus, because predicting consumption without saying something about production would hardly be acceptable at a storefront university on Wall Street or Rodeo Drive.

Now they have apparently predicted an oil price for 2030. When I taught in Thailand last year I discussed their PRODUCTION forecast for 2030, and proved - to my satisfaction at least - that it was nonsense. Now those know-nothings want to tell us about price. Isn't it clear that there is more intelligence in the comments above than in all the work on oil by the IEA since the first oil price shock, although that IEA (so-called) research must have cost tens of millions of dollars.

But no Oil Daddy, it shouldn't be shut down. It should be visited by the CIA and similar organizations in order to find out just who set up that incompetent organization, and most important whose stupid idea that originally was. Hopefully this could be done before Guantanamo is closed.

About the Pickens plan, forget it, because when the price of oil starts up again it will pull the price of natural gas with it. Of course, there is always the Pickens 'wind corridor' from the Rio Grande to the Canadian border.
I think that the experts of the IEA should have a look at that one.