huskerbob

Petrobras: Set to Become a Global Oil Major - Barron's

zenalgorithm - peak oil simply shows that when the easy oil is gone (roughly half of a field's capacity), production will decrease gradually because of the increased difficulty of extraction. Peak oil means the oil is half gone, and will vary from field to field.
Even the most pollyannish sunshine pumper will admit that the difficulty and cost of extracting oil is increasing rapidly worldwide. This article actually fits perfectly into the facts of peak oil: oil will be increasingly difficult (and expensive) to extract.