Another popular channel of peak oil skepticism centers around the Abiotic theory:
The fact is, there is a very large body of scientific evidence that oil is not the limited resource we once thought it was. (ref) There is a deep-crust inorganic process involving magma near the mantle that appears to be at work in replenishing the many of the deep oil wells from below, so that a well exhausted at one time might have a renewed supply again just five years later.
However, the Abiotic theory really is pretty shaky.
The fact remains that the abiotic theory of petroleum genesis has zero credibility for economically interesting accumulations. 99.9999% of the world’s liquid hydrocarbons are produced by maturation of organic matter derived from organisms. To deny this means you have to come up with good explanations for the following observations…
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