Originally Posted by dready

Fine, ignore that quote... what about the 2 from BP and Shell? You think they like telling people they might be out of business soon? Exploration is becomming more and more costly. Some companies are spending more money on finding the oil than they get selling it. The Capsian Sea in the 90s was supposed to be the next big thing that would save us all... it never panned out. It's about the same as the North Sea reserves which is like 4% of world reserves. Yet this is the biggest discovery in years.

How about this article in the New York Times:
Top oil groups fail to recoup exploration costs