Development of oil formation theories and their importance for peak oil

This paper reviews the historical development of both biogenic and non-biogenic petroleum formation. It also examines the recent claim that the so-called “abiotic” oil formation theory undermines the concept of “peak oil,” i.e. the notion that world oil production is destined to reach a maximum that will be followed by an irreversible decline. We show that peak oil is first and foremost a matter of production flows. Consequently, the mechanism of oil formation does not strongly affect depletion. We would need to revise the theory beyond peak oil only for the extreme — and unlikely — hypothesis of abiotic petroleum formation.