re: Oil and gas folks please explain the whole oil /gas scarcity thing to me

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There is some data to suggest that it is made by some unknown process and that the earth is constantly producing.

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In a laboratory. Zero dino juice, but microscopic organisms in salt water. The whole abiotic oil theory is whacko. The advocates of it were crushed when it subsalt oil was discovered. They had point to a field in the Gulf of Mexico which would be partially refilled. What was discovered is that the source was a reserve below the salt layer and a crack between the two.