There's a pretty good article here in Scientific American October 2009.

http://www.scientificamerican.com/article.cfm?id=squeezing-more-oil...

It discusses a number of reasons about how we may not be reaching peak oil any time soon. It points out that current extraction methods only extract 30% or so of the oil in the ground and discusses ways that may extract a larger percentage of the oil underground. It also discusses that we're extracting oil from areas that weren't economical to drill before, and areas that haven't been explored due to better drilling technology.

I'm a little surprised that they published this. In the past decade or so, Scientific American should have been called Peseudoscientific Treehugging American Propaganda.

They didn't even throw in a line about "this means we need more government action to curb CO2 emission because we're not really running out of oil.

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Yes, US production has long since peaked, but world production continues to rise.

...and I've got oceanfront property in Arizona......
replies to this scientificamerican article from a very respectible website, with many geologists and petroleum engineers, The Oil Drum (TOD):

http://www.theoildrum.com/node/5811#comments_top

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