Putin signed amendments to the 2012 budget only a couple of weeks ago, considerably increasing the projected oil price for 2012 even when oil prices were in decline with no end in sight except for the geopolitical risks in Iran.

FORBES: Putin Wrong As Russia Submits To Higher Deficit

Oil recovery rates have declined, and, with no remedy in sight for the gas reinjection shortage, this decline may accelerate.

FORBES: Magazine Article

Oil continues to spew into the Gulf of Mexico with no end in sight, while top executives of BP, Transocean and Halliburton blame each other before Congress.

FORBES

With the Deepwater Horizon oil spill now moving into its second month and no immediate end in sight, BP is ( see WSJ story today) attempting to throw Transocean under the bus as responsible for the disaster.

FORBES: BP Spill Update: Endless Spill, Endless Blame

Chevron sunk an offshore oil rig in 1937 in 14 feet of water and by 1947 drillers were working on rigs out of sight of land.

FORBES: On The Gulf Coast, Somebody Will Pay