Keep in mind you can also go look for yourself at the locations being talked about. The USGS website is chock full of information that weeds out the whole oil company CEO mistrust issue.

When was is exactly that Shell Oil CEO stated that in 2008?

Was it before or after the USGS report about Bakken being assessed to hold 3-4 billion barrels of oil or was it after that report?

http://www.usgs.gov/newsroom/article.asp?ID=1911

Is the Shell CEO trying to tell us we're running out because they want to drive the price up? Maybe it's because they don't have access to get at the new discoveries?

From what I've seen and read, almost every year there is talk about new discoveries. If we're running out or reaching peak, why are they still exploring and finding new sources?