That's not a brilliant conclusion on your part. That is a baseless assumption. Frankly, we can't possibly know if it is true or what rate oil could be reproducing in the earth. If you have to drill 40,000 feet deep and we aren't doing so, then who is to say there isn't a massive supply that deep that we simply don't know about? We do know we found oil and gas 7 miles deep in Texas and there is NO WAY dino and plant fossilized matter could have just seeped 7 miles down into the earth's crust.
“That is a baseless assumption.”
Where is your proof that oil is created on a continual basis?
You need to deal with reality. The Texas oil fields are nearing exhaustion. Why haven’t they been replenished?
If oil is produced continually, then why is the price of gas going up?
There is a simple market-based explanation for that: As time goes by, the more costly reserves are tapped, and that forces up the price.
The truth is that nothing is limitless. The time will come where we not only do not have any oil, but we won’t have water or atmosphere. The Earth will be as dry and desolate as Mars. There are some interesting theories (which are unproven) that our assumptions about the mechanism by which oil reserves come into existence, but no scientist, not a single one has ever postulated that we have a limitless supply of oil.
Oil is not thermally stable below around 11,000’ in most basins. In some cooler ones like the Gulf of Mexico and Nigeria, you can find it down to 20,000’ but it is a rarity. It breaks down into natural gas and eventually elemental carbon around 30,000’. There have been many wells drilled all over the world and all accumulations of oil have been found in basins. Oil and heat, say with vulcanism and plate collision zones, don’t mix. Gold was a moron out for publicity and grant money. Ask any serious geochemist.