There never was any such a thing as “peak oil” - the earth shall continue to have petroleum pumped out of its crust a millennium from now. Some oil is always being regenerated at the Mohorovicic Discontinuity, where untold number of chemical and physical reactions proceed unabated, as they have since the planet cooled enough to form a crust. Some small amount of oil MAY have been produced through the decomposition of dinosaur remains, through a process known as Thermal Depolymerization.
Thermal depolymerization occurs in nature when an accumulated biomass is heated and pressurized in the earth’s crust over millions of years. This biomass, also known as kerogen, is believed to react with clay mineral enzymes at temperatures below 200 degrees C (392 degrees F), which produces oil. Actually the process only takes a few hours once the optimal conditions are reached, and this process can be used with all kinds of organic waste, not just dead dinosaurs. It can be and has been applied on an industrial basis, though the current cost to produce the crude oil is higher than the current market price of crude.
I remember when the left used the lame excuse that it would take 20 years to get a drop of oil into the pipe lines