Is this the slippery slope?

From The Oil Drum comes a link to The Automatic Earth and their take on current financial events. This is the same pair who gave us this assessment a year or so ago. I want their crystal ball.The price of oil continues to fall. Looks great at the pump, but will the oil companies step up the pace on drilling in all those more exotic, and costly, locales? If the majors require support to do it,