Right? Didn't all the peak oil fanatics say we'd run of oil years ago?
For some reasons, peak oil fanatics never thought Wall Street (or the Fed?) would lend free money to money-losing ventures that are literally ruining our planet. Tell me, who are the fanatics again?
Trust me, oil companies are not doing this for charity. Of course, when the price of oil is driven downwards on purpose by the Saudis ramping up production (as it was a few years ago), these higher cost methods of extraction can become unprofitable. But the price of oil is again in a range where these methods are profitable.