The Oil Patch Is Getting Slippery

“The days that people had gotten used to, where oil was inexpensive and easily available — those days are gone,” says an Occidental spokesman.

“The law of diminishing returns is alive and well. We’re drilling more to get the same volumes,” says Arthur L. Smith, CEO of John S. Herold Inc., a Norwalk (Conn.) energy consulting firm.

http://www.businessweek.com/magazine/content/05_09/b3922077_mz054.htm