Harry Veeder wrote:
Massive oil field found under Gulf
Reserves south of New Orleans could rival
North Slope, boosting U.S. supplies by 50%
http://www.wnd.com/news/article.asp?ARTICLE_ID=51837
Chevron and two oil exploration companies announced the discovery of a giant
oil reserve in the Gulf of Mexico that could boost the nation's supplies by
as much as 50 percent and provide compelling evidence oil is a plentiful
deep-earth product made naturally on a continuous basis.
The abiotic theory always sounded plausible to me, but there's a problem
with it: The oil is still produced very slowly.
Note that "fossil fuels" are produced continuously, also. In either
case the problem is that the terrestrial production rate is far slower
than the current consumption rate. So, biotic or abiotic, there comes a
day when there isn't any more, and won't be any again for a long, long time.
The interesting conclusion of the abiotic theory is that there may be
more large oil fields than expected, because exploration has been guided
by the biotic theory and so the oil companies haven't looked everywhere
they should. But that still doesn't translate into anything that allows
one to conclude oil is inexhaustible at current use rates.
