Any truth to Peak Oil being a myth?

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Is there any truth to Peak Oil being a myth? Skeptics are claiming that oil is not made from previously living matter and therefore shouldn’t be considered a fossil fuel.

They mention the deepest fossils ever discovered have been no more than 16,000 feet yet we drill for oil in depths much larger than this every day.

Here is an 8 min clip of someone explaining this And many more articles if you Google it.

They allege the oil industry creates this myth to jack up oil prices by creating a false notion of oil scarcity.

Sure flies in the face of everything I was taught.

Crack-pottery?
 
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Evo

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Crackpottery.
 

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