Recently, we have had two new articles aiming to put to rest people's fears about peak oil. One is from the New York Times:

Oil Industry Sets a Brisk Pace of New Discoveries

It talks about the many discoveries this year, and how, if they continue at the pace they have in the first half, they will be the best since 2000.

The other is from the October Scientific American, called

Squeezing More Oil from the Ground.

It is behind a pay wall (you can get it for $5.95). There is also a draft version available on line. Its premise seems to be that there are a lot of promising areas that we have not yet explored. When you put this together with advances in drilling and the promises of secondary and tertiary recovery, there is a good chance that oil production will not peak for many years.

In this post, we will look a little more at these articles, and see why peak oil, and perhaps the financial issues associated with peak oil, are still an issue, regardless of what these articles may suggest.