That's the nature of resource exploration, though; as things become more scarce, the pressure for resource exploration becomes much stronger. New technology has certainly helped by increasing the amount of resources retrievable, especially offshore.
By and large increases in technology have invalidated the assumptions on how much and where resource is retrievable. The models that show resource declines necessarily don't allow for big technological changes. As such, I don't think that the forecast is necessarily false; it's certainly based on a valid premise, that the supply of oil is finite.
Marco
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> Marco Anglesio | Quidquid latine dictum sit, <
> mpa at the-wire.com | altum viditur. <
> http://www.the-wire.com/~mpa | (Whatever is said in Latin <
> | sounds profound.) <
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