Matija Stepic Posted almost 4 years ago Is peak oil a hoax? Can it be debunked? The reality of 1970 peak is not due to resource depletion in the US fields – it peaked because US oil companies like Texaco, Mobil... flooded US market with cheap imports from Middle East, tariff free, at very low prices so that Texas and California domestic producers could not compete and were forced to shut down their wells, result was major decline in US oil production. The argument of abiotic oil theory is followed by Dr. J.F. Kenney – who has studied under Vladilen Krayushkin. Kenney stated in one interview that „alone to have produced the amount of oil to date that (Saudi Arabia’s) Ghawar field has produced would have required a cube of fossilized dinosaur detritus, assuming 100% conversion efficiency, measuring 19 miles deep, wide and high.“ – which is absurde. http://www.studien-von-zeitfragen.net/Zeitfragen/Petroleum/petroleum.html I strongly agree that we must pursue alternative - clean energy technolgies, but oil will still play major role in many years to come.