The peak oil conspiracy

It’s tough keeping up sometimes. I thought that the peak oil conspiracy theory ran like this:

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.

But that, my friends, is so last week. Apparently, the cool kids now believe that:

Peak oil is a fraud concocted by the oil industries to increase prices amid concerns about future supplies. The oil industry is aware of vast reserves of untapped oil, but does not utilise them in order to maintain the illusion of scarcity, they claim.

The safest thing is probably to believe that both conspiracy theories are true.