This isn't because there's less light sweet oil refining capacity (the cheapest) available, it's because there's less light sweet oil about. Global supply of light sweet oil peaked back in 2004 and is now declining
The various oil companies have known that this has been the case for the past 20 years!! and yet have failed to invest in infrastructure...your point is valid, so however is mine.
Which is irrelevant to peak oil in 2010, it's a flow rate problem not a lack of oil shale or tar sands problem.
Flow rate is based on the rate of extraction..(or lack of), again a problem that has been known about for a significant length of time. OPEC and the OECD have published details on their respective websites from as far back as 1986 stating that refining capacity would present a problem with the then lack of investment.
Suggesting that if only the rest of the world was drilled as much as the US more oil would be found? Rubbish, the US drilled like crazy in the early 80's, completing some 25,000 wells per year. Did it improve their extraction rates - nope, they have been declining since 1971. So no the rest of the world hasn't been Swiss cheeses like the US but that absolutely doesn't mean there's vast amounts of oil yet to find
It also means that there may well be un-discovered reserves, your argument is only as valid as mine, however the balance of probability is in favour of what I have stated. My suggestion is based apon current survey and extraction techniques, and does not take into account further technological advances (which will improve detection rates)