I already said back then:

I'd say "fields yet to be found" looks completely massaged to me.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

Yes it does. We'll need to find more, so we will. Isn't that basic economics?

no, an accelerating rate of oil discoveries would produce a curve or "trumphet" in the graph- the widening is the compounding of production from new discoveries from year to year. (assume one new well per year - year four will have four times the production from "new" wells. that doesnt mean four wells were discovered in year four.