The processes that made oil in the past are probably still at work.
The concerns are how expensive it will be to extract the oil and what to do when consumption out-paces production.
The fairly comfortable lifestyle in the West depends on the availability of cheap oil.When petroleum becomes more expensive, the price of petroleum-based products will increase as well.
Since oil is the lifeblood of our economy, the prospect of a major increase in the price of oil is troubling.