FUKUI, Japan (Dow Jones)--Global oil output could fall up to 900,000 barrels a day from projected levels for 2015 if oil producing countries follow the U.S. lead and impose moratoriums on development of new offshore oil reserves, International Energy Agency Executive Director Nobuo Tanaka said Friday.

(From one of the links given by Ed T)

Anybody tell me why anybody would be stupid enough to follow the U.S. lead??

Sort out any prospective oil shortage caused by this moratorium by refusing point blank to sell oil to the U.S.