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. (C) 2010 Elsevier Ltd. All rights reserved.