A study "Oil: The Next Revolution," by Leonardo Maugeri of the Harvard Kennedy School, Belfer Center for Science and International Affairs was published this month.
The first paragraph of the Executive Summary:
"Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption. This could lead to a glut of overproduction and a steep dip in oil prices."
Further on in the report, talking about estimates of the Bakken Field in North Dakota (the state with the lowest unemployment rate in the nation):