Supporting Evidence, Briefly
Oil being discovered at 30,000 feet, far below the 18,000 feet where organic matter is no longer found.
Wells pumped dry later replenished.
Volume of oil pumped thus far not accountable from organic material alone according to present models.

Scientists in the US have witnessed the production of methane under the conditions that exist in the Earth's upper mantle for the first time. The experiments demonstrate that hydrocarbons could be formed inside the Earth via simple inorganic reactions -- and not just from the decomposition of living organisms as conventionally assumed -- and might therefore be more plentiful than previously thought.

Petroleum under pressure

'Fossil fuel' theory takes hit with NASA finding - NASA scientists are about to publish conclusive studies showing abundant methane of a non-biologic nature is found on Saturn's giant moon Titan, a finding that validates a new book's contention that oil is not a fossil fuel. (World Net Daily; Dec. 1, 2005)

It appears that, unbeknownst to Westerners, there have actually been, for quite some time now, two competing theories concerning the origins of petroleum. One theory claims that oil is an organic 'fossil fuel' deposited in finite quantities near the planet's surface. The other theory claims that oil is continuously generated by natural processes in the Earth's magma. One theory is backed by a massive body of research representing fifty years of intense scientific inquiry. The other theory is an unproven relic of the eighteenth century. One theory anticipates deep oil reserves, refillable oil fields, migratory oil systems, deep sources of generation, and the spontaneous venting of gas and oil. The other theory has a difficult time explaining any such documented phenomena.


Stalin And Abiotic Oil

“What they’re moving toward is robotics -- in which you literally have submarine operations. The drilling activity all occurs at the bottom of the ocean. And these robotics will have all the capabilities of being able to fix anything down there.” 

Can technology help find oil fast enough?

Like lots of stuff on internet it’s hard to say which side is right.

Why would America and other countries import the stuff a pay for which is abundant and right near their doorsteps???

Just watch charts and play the game as it unfold, if there is plenty to go around then greedy guys will pump out like there is no tomorrow and will be give it away for almost nothing.

I've been planning and working under the assumption that whether or not PeakOil is real, the perception the PTB want to convey is shortage. How this plays into our industrial complex, I don't know.

I have been steering the family investments and future business into this viewpoint. Of course, trying to talk to the guys over the Steelers game today is just not a good idea. Since our business is autos, easy motoring, and associated suppliers, I take this very seriously.

I think the abiotic argument is feasible. Problem is, getting the oil and the lack of technology at this point in time..

At least buying woodlots makes sense.

BTW, I really enjoy and respect the enormous amount of knowledge and expertise on CapStool.

The "Ring of Fire" is an arc stretching from New Zealand, along the eastern edge of Asia, north across the Aleutian Islands of Alaska, and south along the coast of North and South America. It is composed over 75% of the world's active and dormant volcanoes.

This huge ring of volcanic and seismic (earthquake) activity was noticed and described before the invention of the plate tectonics theory. We now know that the Ring of Fire is located at the borders of the Pacific Plate and other tectonic plates.

Plates are like giant rafts of the earth's surface which often slide next to, collide with, and are forced underneath other plates. Around the Ring of Fire, the Pacific Plate is colliding with and sliding underneath other plates. This process is known as subduction and the volcanically and seismically active area nearby is known as a subduction zone. There is a tremendous amount of energy created by these plates and they easily melt rock into magma, which rises to the surface as lava and forms volcanoes.

Volcanoes are temporary features on the earth's surface and there are currently about 1500 active volcanoes in the world. About ten percent of these are located in the United States.

This is a listing of major volcanic areas in the Ring of Fire:

Most of the metallic minerals mined in the world, such as copper, gold, silver, lead, and zinc, are associated with magmas found deep within the roots of extinct volcanoes located above subduction zones. Rising magma does not always reach the surface to erupt; instead it may slowly cool and harden beneath the volcano to form a wide variety of crystalline rocks (called intrusive igneous rocks). Some of the best examples of such deep-seated granitic rocks, later exposed by erosion, are magnificently displayed in California's Yosemite National Park. Ore deposits commonly form around the magma bodies that feed volcanoes because there is a ready supply of heat, which convectively moves and circulates ore-bearing fluids. The metals, originally scattered in trace amounts in magma or surrounding solid rocks, become concentrated by circulating hot fluids and can be redeposited, under favorable temperature and pressure conditions, to form rich mineral veins.

The active volcanic vents along the spreading mid-ocean ridges create ideal environments for the circulation of fluids rich in minerals and for ore deposition. Water as hot as 380 °C gushes out of geothermal springs along the spreading centers. The water has been heated during circulation by contact with the hot volcanic rocks forming the ridge. Deep-sea hot springs containing an abundance of dark-colored ore minerals (sulphides) of iron, copper, zinc, nickel, and other metals are called "black smokers." On rare occasions, such deep-sea ore deposits are later exposed in remnants of ancient oceanic crust that have been scraped off and left ("beached") on top of continental crust during past subduction processes. The Troodos Massif on the Island of Cyprus is perhaps the best known example of such ancient oceanic crust. Cyprus was an important source of copper in the ancient world, and Romans called copper the "Cyprian metal"; the Latin word for copper is cyprium.

Oil and natural gas are the products of the deep burial and decomposition of accumulated organic material in geologic basins that flank mountain ranges formed by plate-tectonic processes. Heat and pressure at depth transform the decomposed organic material into tiny pockets of gas and liquid petroleum, which then migrate through the pore spaces and larger openings in the surrounding rocks and collect in reservoirs,

When a thin, dense oceanic plate collides with a relatively light, thick continental plate, the oceanic plate is forced under the continental plate; this phenomenon is called subduction.
  Two Oceanic Plates - When two oceanic plates collide, one may be pushed under the other and magma from the mantle rises, forming volcanoes in the vicinity.

http://userpage.fu-berlin.de/~data/database/oceanage/jgr_paper.html

The expectation of geologists until the mid-1900's was that the rocks of the ocean floor should be very old. This expectation was based on two arguments. First, one would expect there to be little to no erosion of the rocks on the ocean floor -- it is already at low potential energy -- so that the rocks that formed as the Earth formed should still be preserved beneath the ocean. Now you might expect that the ocean floor would be covered with thick layers of sedimentary rocks eroded from the continents, but beneath the sediments, there should be some of the oldest rocks of the Earth. The second reason is that geologists viewed the ocean as a kind of giant valley. If you look at the Grand Canyon, as you go deeper into the canyon, the rocks get older and older. While this was the expectation, the reality was that no one had ever found really old rocks from the ocean floor. Dredging and drilling operations have never recovered rocks more than 150 million years old. Given that the Earth is about 4.5 billion years old this would seem to present a problem.  Using SONAR to map the ocean floor in detail radically changed geology's view of the oceans and the earth itself.

The key to subduction seems to be water which acts as a kind of lubricant as the heavier plate slips underneath the lighter plate.
I must not forget to mention the Himalayas and Mount Everest because this is the third example of plate movement

Millions of years ago India and an ancient ocean called the Tethys Ocean were sat on a tectonic plate. This plate was moving northwards towards Asia at a rate of 10 centimetres per year. The Tethys oceanic crust was being subducted under the Asian Continent. The ocean got progressively smaller until about 55 milion years ago when India 'hit' Asia. There was no more ocean left to lubricate the subduction and so the plates welled up to form the High Plateau of Tibet and the Himalayan Mountains. The continental crust under Tibet is over 70 kilometres thick. North of Katmandu, the capital of Nepal, is a deep gorge in the Himalayas. the rock here is made of schist and granite with contorted and folded layers of marine sediments which were deposited by the Tethys ocean over 60 million years ago.

The regional pattern of the grabens and related faults strongly suggests that the grabens in the Gulf of Thailand are the result of the collision of India with Central Asia that began in Eocene time. The collision forced the area to the west of the Gulf of Thailand to the north and west relative to the area to the east, causing grabens and strike-slip faults with right- lateral movements, as well as en-echelon normal faults trending generally north-south. A similar structural picture has been mapped onshore Thailand.

The only modern Southeast Asian analogue to the Gulf of Thailand basins during Tertiary time is the Tonle Sap area in Cambodia. This large lake is today being filled with lacustrine sands and shales and in places with fresh-water limestones. These lacustrine shales are sufficiently rich in organic matter to be excellent oil source rocks. The reason that most hydrocarbon production in the Gulf of Thailand is gas is the combination of deep burial and high thermal gradients. Because the source units are not laterally extensive, they are absent on the basin flanks where they would be in the oil window.