You heard it here, first...

....most likely
We arent EVER going to run out of oil. Because 'nature' is always producing it.

We all learned in school that oil and coal is 'made' by compressing a lot of dead organic life and I dont think that's wrong, especially for coal.. but it always made me wonder about 'yield' and how thick the fossil layer had to be to generate that much crude.
Not to mention, the difficulty in picturing the geologic overlay resulting in oil and gas being found several miles deep. Now it turns out that 'dead stuff is probably not the only source. Some petroleum crude is generated directly from the base molecules.

This explains a couple other things.. there have been a few oil fields that surprisingly 'rejuvenated' themselves.

Read about this theory.

Not to say there's no need to worry about 'peak oil'. Definitely we need to progress to fusion reactor power sources. But there's going to be enough oil to 'make stuff', without resorting to foodstocks for either fuel or raw materials.

 

This theory has been kicking around for 15 years or so, I'm not sure I buy it since it runs so counter to everything I've ever learned about geology. I'm conservative enough not to trust a theory that runs so counter to what has been established. Of course, this is geology, where what is true today is not true tomorrow (in the words of a professor I had a long time ago).

If Drs. Gold and Kenney are right, great. What if they are not? Who gets hurt by not driving another SUV and buying a car that gets better mileage? Not necessarily a Prius, but something along the lines of 35-30 MPG.

I liked this site, it seems like a good source for news outside of the mainstream media. And I chuckled at some of the conservative T-shirts they were selling.

 

Here's a thought.... What's the difference between coal and oil geology?

While there's no SURE way of determining there ARENT complementary fossil records at several miles underground, seems to me they have been firmly established for coal deposits.

And where are the greatest occurrances of 'methane bubbles'? Along ocean trenches.