Portable light field (LF) cameras have demonstrated capabilities beyond conventional cameras. In a single snapshot, they enable digital image refocusing and 3D reconstruction. We show that they obtain a larger depth of field but maintain the ability to reconstruct detail at high resolution. In fact, all depths are approximately focused, except for a thin slab where blur size is bounded, i.e., their depth of field is essentially inverted compared to regular cameras. Crucial to their success is the way they sample the LF, trading off spatial versus angular resolution, and how aliasing affects the LF. We show that applying traditional multiview stereo methods to the extracted low-resolution views can result in reconstruction errors due to aliasing. We address these challenges using an explicit image formation model, and incorporate Lambertian and texture preserving priors to reconstruct both scene depth and its superresolved texture in a variational Bayesian framework, eliminating aliasing by fusing multiview information. We demonstrate the method on synthetic and real images captured with our LF camera, and show that it can outperform other computational camera systems.