Peak Oil in the WSJ

Here's a front page article and a very nice summary about the issues facing the rates of production of oil. Notice I didn't say anything about reserves. It's all about the production rates.

http://online.wsj.com/article/SB119543677899797558.html?mod=hpp_us_whats_news

Of course if we find enough reserves then the production rate increases would come by easier but history has shown that we just aren't finding the same big fields as we used to. In fact one stat I've read says that currently we're only replacing one barrel of oil in reserves for every three that we burn.