It doesn’t matter, even if oil is biotic it is not economically finite, in danger of depletion, or is there such a thing as global or even national production peak. As I never tire of repeating, the flaw of extrapolationism is that it does not take the cyclical replenishment of resources into account. Scarcity causes creation of resources. Therefore, resources are not economically finite, we create more of them as we need them. At any point in time resources will always appear to be running out if you extrapolate current consumption without taking into account that people replenish resources as they get scarce.