Oil companies around the world want us to believe that oil is a finite item that will one day run out. They raise prices and fuel wars over the idea that we need oil and only a few places are lucky enough to have it. Why else would the entire world be so invested in the Middle East if not for the oil under their sand?
Well, not everybody believes that oil is a byproduct of centuries past. Dr. Thomas Gold, founder and director of the Cornell Center for Radiophysics and Space Research presented a different theory in 1980 which now has more than a few other respected scientists behind it.
The idea is that the earth actually creates oil deep below the surface where temperatures are hot and pressure is high. In his book "The Deep Hot Biosphere: The Myth of Fossil Fuels" calls the earth an oil factory and suggests that this will become apparent as our technology improves allowing us to find deeper oil reserves.
Just recently BP, Europe's second largest oil company, found what is being called a "giant" oil reserve very deep under the Gulf of Mexico. The well they drilled is the world's deepest exploration well and just might be the tip of the iceberg, perhaps even helping prove Dr. Gold's theory about the true nature of oil.
New Oil Found - http://www.bloomberg.com/apps/news?pid=20601087&sid=adF31W9._rik
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