>>95968880>Oil is functionally infiniteOil is bottlenecked by geographical availability, the technology available of our time, and the cost of extraction.
We weren't technically running out of oil when the "peak oil crisis" hit, we were running out of ways to extract oil in a cost effective manner that allowed normal chicken-nugget consumers to own 3 cars and drive everywhere. The only thing that changed or prevented that was technological innovation. The best example I can think of is oil production in Canada: liquid oil extraction has seen basically zero increases in production since the 70's, but oil sands/oil shale and natural gas production has effectively doubled every 10 years.
The people who were farting and pissing about us running out of oil weren't necessarily wrong; we were only spared that inconvenience by the fact we found *more*, *different*, sources of fossil fuel were discovered and capitalized on. The brief scarcity though has changed the market in other ways: 45% of America's corn is turned into ethanol to prop up their domestic fuel supplies and we don't throw away natural gas anymore.
A much simpler, similar, event happened in late-medieval Europe, just before the colonial arc: they had effectively "run out" of easy-to-access surface level deposits of ore and countries were now spending more and more charcoal/coal, water, and men, to dig up deeper ore in harder rock, with limited technology.
>and it's being made perpetually as long as plankton and such keeps being made and dying.Not at a rate to match industrial or consumer production it doesn't, nor in a quantity enough to justify opening up abandoned/orphaned wells.
What you're talking about is the bracket of some unwashed Indonesian man operating a hand-cranked well, dredging up muddy brown oil, and loading it up into the back of a truck.