The peak oil debate is underpinned by a biological paradigm of oil formation that generates a notion of fixed oil and gas reserves in the Earth's crust. However, the potential of the abiogenic theory of oil formation is underestimated. We will demonstrate the value of modern petroleum science based on a thermodynamic understanding of hydrocarbon formation, and both experimental and observational data, which can introduce a change into the debate. Now emotionally charged and contentious, the debate will supposedly develop a balanced and realistic scenario on gradual oil transition and a secure global energy supply. (c) 2008 Elsevier Ltd. All rights reserved.