There have been a few articles in the mainstream media lately
expressing skepticism about a near term peaking in oil
production - the New York Times (Oil Industry Sets a Brisk Pace
of New Discoveries) and Scientific American (Squeezing More Oil
From The Ground) being prominent amongst them.   “That’s the
wonderful thing about price signals in a free market — it puts
people in a better position to take more exploration risk,” said
James T. Hackett, chairman and chief executive of Anadarko
Petroleum.   These claims are being buoyed by various
announcements of reasonably large oil discoveries in new
offshore locations, such as BP's Tiber find in the Gulf of
Mexico, Iran's 8.8 billion barrel claim in Kouzestan, the
Anadarko led discovery off West Africa and news that Cairn
Energy have commenced production at a 1 billion barrel field in
Rajastan, India (I'm not sure what large discoveries have been
made in Australia recently however - as claimed in the NYT
article - there is lots of news on the natural gas and coa