Currently there are many geological analysts arguing that in the long-term, the oil supply will run out. Some argue that we have already reached the ‘peak’ of supply and that from now on, oil reserves are on a steady decline. This together with the totally distinct theory of ‘global warming’, has resulted in a cry from scientists, enviromentalists, corporate leaders, politicians and celebrities to free us from the oil “habit”. The debate on the effects of oil use and other man-made activity on global warming is another issue already addressed by other entries on this blog.
A phenomena noticed in the nineteen-ninties, was the replenishment of oil in supposesedly exhausted reserves. The deeper the wells the greater the replenishment. This phenomena was occurring at depths too deep for the oil to be due to the traditional theories on the origins of Oil being the fossilized bio-mass. A number of researchers have since delved into this puzzling phenomena and a number of hypotheses have arisen.
A paper published in 2002 in the Proceedings of the National Academy of Sciences of the United States of America, argues that deep in the earth the materials, temperature and preassure exist to produce petroleum. “The evolution of multicomponent systems at high pressures IV: The thermodynamic stabilty of the hydrogen-carbon system: The genesis of hydrocarbons and the origin of petroleum”, by J.F. Kenney (U.S.A.), Vladimir A. Kutcherov, Nikolai A. Bendeliani and Vladimir A. Alekseev (Russia), if correct in their research, then the supply of oil is continually being replenished, and that at deeper levels a vast supply of oil may be available.