The economist Brad De Long has posted a link to an Economist article on the oil market.
Some discussion on ANWR possibilities in the comments, which jives with what Goodstein thinks. I have to learn not to post to right-wing sites, the outsidethebeltway blog erased my comment on the same topic. Oh well.
previous ANWR post
also SW pointed out "2003 was the first year that absolutely NO major oil fields were discovered."