Some of that 'major noise' was truly massive strategic bombardment from 1943 on to the end of WWII, then the introduction of Stalin's brand of communism to the masses.

I wonder what effect such a production pause had on eventual final recovery, since rate of production does seem to play a role in the eventual total able to be produced.

In which case, Rumania just might serve as an example to contrast long term production, at least in terms of 'rest periods' compared to what seem to be fairly modern, global practices of massive short term exploitation. In terms of offshore, this might make sense in a number of ways (for example, a shorter intensive production period also reduces the chance of a major  incident involving oil at sea), but in terms of onshore, it might just be more proof that greed and short term thinking dominate - though was it here, or was it a Simmons presentation that talked about some Texas family which decided to produce oil from their land for the long term?

Of course, I doubt this would be practical (how do you control for technology? geologic particulars?), but it is something to think about.

And keeping with the tears of Allah theme, Rumania is currently one of the absolute poorest parts of Europe, and has been that way (more or less) since oil production began.

for a good example of a family taking the long term view, look at the Tom O'Connor ranch in Victoria,Refugio, and Goliad counties, Texas. There were two giant fields discovered in the 1930's on their property, Tom O'Connor and Greta. They discovered the Lake Pasture field themselves in the '50's. They have consistently not leased since then because their family has enough money, about a gazillion dollars.
  They have about 300,000 unexplored acres in the Frio, and Wilcox trends. The O'Connors are an extremely private family and very conservative in the good sense of being religeous and traditionalists not the NeoConartist sense. They have in my opinion the best unexplored acreage in the state, excepting the undrilled deep-seated salt dome under Memorial Park and River Oaks Country club in Houston.
Thanks - the name sounds right, as does the basic perspective - that is, long term maximization of a resource which inevitably will run out in the future.
Fascinating information. I wonder how high the oil price has to go before they dig up the country club.
Or someone does horizontal drilling. :-)