Lies, damn lies and harbor spies.

From WorldOil

“I have no idea why so many elements of reserves growth are ignored or denied by the Peakers; perhaps it’s because it just doesn’t fit their impending doom scenario. Of these, two interrelated factors still have a long way to go: prices and recovery factors. The roughly 10% increase in recovery during the past two decades has resulted in about one-third of in situ oil being recovered. But this is nowhere near irreducible oil saturation. In other words, there is every reason to believe that, in time, with advanced methods and higher oil prices, recovery factors, on average, could go up another 10%, probably more.”
WO