Don't get too excited by it. Most oil fields do not recharge, and the few that do can be explained by existing geological theories.
If this theory was true, you could find oil just about everywhere, and there wouldn't be many exploratory dry holes. However, the actual success rate, even with the improved technology for finding oil, is only about 12%.
In any event, we're clearly using oil faster than it's being created and we're forced to look in places where we've never been able to look before.
I was just listening to Rush while in the car. A person might have predicted that he would have made this letter Item #1 today. Some geologist from Texas called in and supported the contents of the letter. I was always told as a kid that dinosaurs gave up there lives so we could drive fast cars. This fellow said that oil is being produced, "As we speak". He also said it comes not from dinosaurs but 'Crushed Asians' Why just Asians and where do they crush all of them? :)