[RavenLooneyToon]

If all oil is the result biotic matter being compressed and cooked, then by definition, it is a renewable resource up until about one hundred thousand years after all living algae has disappeared.
There was algae yesterday, there is algae today, and there will be algae tomorrow.
We could never build enough barrels to contain even one thousandth of 1 percent of all the algae in our oceans.
Oil is a renewable energy regardless of which theory of it's creation is used. It's just a matter of finding it and pumping it. Old wells will refill just as do forests, just takes a lot longer.

[crusty old prospector]

Most oil wells will not be refilled as the source rocks beneath them are already thermally overmature. But new traps are being formed today in the basins of the world, like the deltas of the major rivers. We won’t be around to see them filled. The examples that people use about old fields being “refilled” come from a few fields in the Gulf of Mexico where, because of pressure changes from the production of oil, it causes some faults to move and oil is coming up the fault plane from deeper reservoirs, say 3000’ below, not 40,000’ as some posters are claiming.

[thackney]

Old wells will refill just as do forests, just takes a lot longer.

Old wells won't refill, but new ones will form. In a hundred million years or so, today's organic rich sediment will be new oil fields.

The problem is, we use it far, far faster than it forms. If it was forming at the rate we are using it, and doing so for the past few hundred million years, the oil layer would encircle the whole earth several miles thick. We've done this math more than once at Free Republic.