lots of new finds! brazil offshore (possibly the biggest ever) is just one of many....lots of untapped reservoirs (i.e. the gulf, northwest, china,etc.)....

imo....the only reason production is slowing is because of NO investment in new oil fields (on/offshore) in almost 40 years...big oil has been resting on it's producing fields for a long time...they've done a lot of exploration (they know where the new stuff is)...

i really believe this 8yr price increase we've just witnessed was partially to fund new projects (and fill some piggy banks).....

funny thing about oil production...once you've spent the (significant amount) of money to get a field or pump up and running, it takes minimal capital to maintain......

as far as "hubberts curve" peak oil....if you mean the "peak" of production because of the "peak of demand" then maybe i'll buy it...if you mean "peak" of production because of diminishing resource......then i say, we wont see it......