The tighty rightys are in deep denial of both science and sanity when it comes to peak oil. Despite data that shows that the world's giant oilfields are starting to sputter and run dry, they've invented a new theory to avoid having to confront reality -- the "abiotic theory" of where oil comes from. They say, "oil is naturally and continually forming, it isn't a limited resource." To which an oil man snorts, "so why did my well run dry?".
First, let's differentiate oil from methane gas. Methane ("natural gas") is naturally created in the Earth's deep crust, as can be proven when volcanoes belch vast amounts of it into the atmosphere during periodic eruptions. But to go from there to saying that oil is similarly created ignores the fact that the hydrogen-carbon bonds of oil are far more complex and would not survive the pressures found deep within the Earth where methane forms -- and furthermore, that the carbon in oil has C-13 in the exact same ratio as in plant tissues, whereas the carbon in the Earth's crust has a much larger concentration of C-13, as we can tell by analyzing the methane gas that volcanoes belch.
So whenever you hear about this "abiotic theory" of oil, figure that it comes from the same deranged mindset that insists that lowering taxes results in collecting more tax money (it doesn't, the data they use to "prove" it does includes a giant tax hike hidden in it that accounts for the bump in tax collection), "young earth" creationism, and other things of that ilk. We're talking about folks who are ignorant of math, ignorant of science, possessed only of superstition and greed who want desperately to believe that they are living the one and only life that is possible and live in their own fantasy land where their behaviors don't have consequences. While it is theoretically possible for methane produced deeper in the Earth's crust to seep upwards and be subjected to processes that result in oil in much the same way that you can create oil from coal gassification, from a scientific point of view analysis of the actual oil shows it doesn't happen -- it simply has the wrong carbon components in it. And if there really is any abiotic oil in the world it apparently forms at a rate much slower than needed to replenish oil reservoirs. To channel that Texas oilman again -- "dude, if oil naturally continually forms, why did my oil well run dry?".
-- Badtux the Oily Penguin