Google “abiotic oil.”
There’s enough evidence now that I’m extremely skeptical about oil NOT being a renewal resource.
I’m familiar with the concept. As far as I know, we don’t know the rate the earth develops the oil, assuming it does.
Even if it did, does it develop it at a rate that is faster then we use it, or are we eventually going to face a time of ration, because we have temporarily run out and have to wait for the earth to do its job?