British Petroleum has another very significant oil find in the Gulf of Mexico, at a depth of 35,000 feet:
http://finance.yahoo.com/news/BP-announces-giant-oil-find-apf-2273328778.html?x=0&.v=1
All of these deep oil finds strongly suggest that oil is not based on decayed organic material at all, but a chemical process based on the heat and pressure of the molten core of the Earth creating new oil constantly – throwing the entire notion of “peak oil” and “the last barrel of oil” out the window for those who still have open minds about science.