Who is the IEA?

The International Energy Agency (IEA) announces that its member states have agreed to release 60 million barrels of oil from emergency oil reserves to try to force down the high price of oil created by NATO’s war on Libya.

Who is the IEA, how do they make those decisions and what does this mean for the New World Order? I didn’t know, so I figure others may be interested.

The IEA is part of the OECD – the Organisation for Economic cooperation and Development

http://www.oecd.org/

Essentially this is the non-military part of NATO. The member countries very closely match those of NATO, but Brazil, Russia, and China are trying to become members. The OECD is based in Paris. From its mission statement:

“Drawing on facts and real-life experience, we recommend policies designed to make the lives of ordinary people better. We work with business, through the Business and Industry Advisory Committee to the OECD, and with labour, through the Trade Union Advisory Committee. We have active contacts as well with other civil society organisations. The common thread of our work is a shared commitment to market economies backed by democratic institutions and focused on the wellbeing of all citizens. Along the way, we also set out to make life harder for the terrorists, tax dodgers, crooked businessmen and others whose actions undermine a fair and open society”

The IEA was formed after the 1973 war with Israel To deal with a repeat of the resulting Arab oil embargo. Today, the IEA is heavily involved globally in “sustainable energy” and carbon dioxide controls. The current leader is Nobuo Tanaka, an economic policy advisor from Japan. He’s been the director since 2007. You may have heard that Japan is having problems with nuclear power and is placing an unplanned demand on oil supplies to generate electricity.

The initial response in the futures market is a drop of about $5 barrel. The 60 million barrel “release” of emergency supplies is about a one day supply of world consumption.

So to summarize, an international group in Paris Working with labour unions to create a democratic, fair and open society – headed by a leader from Japan – has ordered the United States to release its emergency wartime oil reserves in order to lower oil prices for Japan so Toyota can resume making enough cars to export for sale in the United States.

The only thing I expect to hear from Fox News is how great it is that President Obama made gasoline prices go down. The Strstegic Oil Reserve was not created as a political tool to use to manipulate short term oil prices.