U.S. Energy Secretary Told of Concerns About Low-Quality Oil Data

Energy consultant Matt Simmons likened the EIA to a “31-year-old house that hadn’t been remodeled” and said the agency relied on outdated computer programs and economic modeling systems.

“The ability for technology to capture good data has come out but we have kept the old system in place,” Simmons said.

Simmons cited a shortage of information about oil production, depletion rates and “very fuzzy” proven reserves figures as some of the EIA weaknesses.
Rigzone