There is no evidence that oilfield decline rates will increase suddenly. It is important, though, to continue to research and understand evolving decline trends and further develop insight into the declines.

Fossil fuels provide most of the world's energy and are the foundation of the past two centuries of economic growth. The issue of climate change poses the first serious challenge to fossil fuels' primacy.

Oil prices are fluctuating in line with the latest economic signals - up and down. This will continue until a clearer view of economic growth materializes.

The decline rate is a key link in the chain of factors needed to understand the future of the world oil supply.

The world is experience its first ever triple digit oil price. This highlights in dramatic fashion how different the oil market environment, and the world economy, is today compared to that of a few decades ago.

The traditional energy business is booming, at the same time supply-and-demand are being taxed like never before and there's growing concern about finding new reserves.

With eyes focused on whether and when oil breaks through the $100 barrier, it turns out that $100 a barrel is really $99.04, at least in terms of the all-time record.

Where's Russia headed? One good place to get an answer was the just-concluded St. Petersburg International Economic Forum, which followed the strained G-8 meeting in Germany.

the conclusion of last year's G8 summit in Scotland, Russian President Vladimir Putin said to the other leaders of the G8 industrial nations, "We cannot ignore the question of overcoming poverty - and the fight against terrorism." But "the key issue for the next summit" would be energy security.

The disclosure of "proved reserves" has been one of the great rituals of the reporting season for oil and gas companies, and one carefully monitored by investors. It's recently taken on even more significance with high and jittery prices, concerns about energy security, and plain fear of running out.