I'm a geologist. To put it mildly, that statement is news to me. Or is this like the AGW consensus thingy (I sided with Linus Pauling on that one).
Then explain why wells that were pumped completely dry were full to the brim 3 or so decades later (in the greater majority of cases.)
Have you knowledge of abiotic oil? It is found very (Very) deep under the oceans and in some cases under continents (such as is the case of the tar sands in Canada.)
There is so much that those exploring it can’t even estimate how much there is because they find it in unfathomable amounts virtually everywhere they look.
I lost a friend who told me of this in the mid 1980’s. He went down with 5 others in the Amazon Jungle (helicopter) and their bodies were not found for almost 4 years.