Like other items that we use daily, there is a theory of classification that applies on Oil too. We have always classified the food we eat, the sports team we are with, our political views, and political affinities. Similarly the oil industry is also labeled distinctly into two earlier and now the third one has emerged in the scenes.
First there are the “Peak Oil” theorists according to whom the oil is a fast depleting resource and we are using this resource at a pace too fast. The second one is rather a pragmatic segment which believes that with development in science and technology, and thus in the methods of drilling oil, newer reserves can be continually identified and thus the supply would remain plentiful.
The third group has deeper interests in the roots and the origins of oil. Their theory has been labeled as the Abiotic theory. Though they have been discarded as being idealist or frauds, opine that oil can be extracted from hydrocarbons existing deep within the core of the Earth. According to them the hydrocarbons seep up the layers of earth and form oil sources after replenishment.
A similar discussion was noticed in the Forbes in the year 2008, a group of Ukrainian and Russian scientist said that the oil does not essentially come from the fossils, but are actually formed within the earth’s mantle, and the forces of heat, pressure and chemical reactions synthesizes it before it appears on the surface of the earth.
The argument about the origin of oil might go on, while people will keep on using the energy resource despite the fact that it is a fast depleting resource. While the US takes the lead in using and also seemingly in years to come in producing oil, present resources must be drawn towards finding an alternate source as good as oil too.
Check out http://www.ventrumenergy.com/ for more details.
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