Plenty Of Oil Out There
for now anyway, at least according to this guy. Of course, what he's saying is pretty much just theory, or speculation, just as much as what others claim. He seems to be making a fairly educated guess, though.
If you're a devotee of Jan Lundberg's Peak Oil Crisis Club, this may not be one you'll enjoy reading.
As usual, if asked for a login, use humboldtlib for the username and blogspot for the password.