Well,what you all have failed to understand is not all oil is the same.
The primary reason the Arabian peninsula and the oil there is so valuable and in demand is the oil is very thin and has little sulfur content.
It pumps from the ground almost like water.
This means very little energy is required to refine it an to extract the impurities.
It also is not that far below ground.
It is true that there are a unlimited supply of crude oil in the North American continent and actually most places on earth.
Getting it out of the ground economically, is another story.
The farther down below the earth it is, the thicker in viscosity it is, the more impurities in the oil there are,all increase the costs of producing
fuels that humans can use.
Peak oil,does not just mean the amount of oil worldwide there is available to use.
It means, how fast humans are using the refined products,how fast we can pump it and transport it, in relation to the amount of energy(fuel) is used
to do this all.
Building more tankers, ships,trucks etc.,pipelines,refineries gas stations and all the energy used to make produce and distribute these items and all
peripheral items needed,has to be taken in to consideration.
Ask yourself this.What is probably the most abundant mineral on earth and also one of the most expensive in weight an worth?Diamonds.
Just like oil no one knows for sure how many diamonds the Debeers corporation has extracted from their mines.
If every diamond that has been extracted from the earth were to be put on the free market,you could buy them at the local 99 cent store.
spoke to me many years ago about her father and his work for British Petroleum
You should all do some extended research on this company and a large number of other multi-national corporations.
The empires created by European countries,who funded the armadas and colonies in the areas of the world the "crowns" decided to occupy,and who is
actually in charge of the world situation.