[Terpfen]

The discovery challenges "peak oil" theorists who contend the Earth's supply of oil is running out.

Not really. Peak oil is crap, but this doesn't damage the theory: one can discover that estimates about supply are wrong, but that supply can still be decreasing.

[RightWhale]

Peak oil is crap

Maybe, but we are in peak oil now. This is what peak oil is like. Not likely we will be suddenly running out while oil is being lifted at the highest rate ever. Not as cheap as it used to be, that's the real peak oil idea.