British Petroleum recently published its energy statistical yearbook. The table of reserves recoverable under current economic conditions is the interesting part, showing that reserves have steadily increased over the last 2 decades. This doesn't include much of the reserves available in the Canadian oil sands.
Speaking of the Canadian oil sands, Wired had an interesting article about extraction methods. The article describes the process to a good degree. The operators of the sands claim that they can extract the oil for $10/bbl and that they have $8.50/bbl in sight with technology still to be rolled out.