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Most of these theories can be placed into two categories: the Optimistic Theory of Oil and the Pessimistic Theory of Oil. My personal opinion is that the Pessimistic theories are more accurate, at least in near-term scope, than those of the optimistic side.
According to the Optimistic Theories, the scenario in which the world finds itself is not at all bleak in regards to the apparently dwindling oil supplies or the rising energy prices that have been seen over the past few years...
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Economic growth will not be significantly affected by energy constraints. The lack of concern can be attributed to one or more proposed theories.
One such theory is the abiogenic petroleum origin theory, also known as the abiotic theory, according to which oil and other petroleum compounds are formed from enormous carbon deposits buried deep underground...
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