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Even with record-high oil prices, about two-thirds of the oil in known oil fields is being left in the ground. That's because existing technologies that could extract far more oil--as much as about 75 percent of the oil in some oil fields--aren't being widely used, according to experts in the petroleum industry.
Several well-established technologies, including "smart oil fields," exist that could significantly boost the supply of petroleum from oil reservoirs. But a lack of investment in such technologies, particularly by the national oil companies that control the vast majority of the world's oil reserves, is holding back implementation.