I’m not sure about either theory. That oil is like coal and is a fossil or are those pools of oil are produced abioticly from the earths mantle. Both theories make some sense, but, neither can be proved empirically.
Not really. I suggest reading:
No Free Lunch, Part 1:
A Critique of Thomas Gold’s Claims for Abiotic Oil
by Jean Laherrere
http://www.fromthewilderness.com/free/ww3/102104_no_free_pt1.shtml
No Free Lunch, Part 2:
If abiotic oil exists, where is it?
by Dale Allen Pfeiffer
http://www.fromthewilderness.com/free/ww3/011205_no_free_pt2.shtml