Is "Peak Oil" a fraud?

Are hydrocarbons "renewable"- and if so- what does such a conclusion mean for the future of the world's oil and natural gas supplies?

The question is critical due to the enormous amount of coverage the issue of "Peak Oil" is receiving from the mainstream press. If the supply of hydrocarbons is renewable- then the contrary to the conventional wisdom being touted throughout the mainstream press today- the world is NOT running out of oil.

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.

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Tags: iraq, war, oil, politics