Jerome Corsi co-author of Black Gold Stranglehold, shared the contention that oil is continually created deep inside the planet, and doesn't stem from dinosaurs or decayed matter (i.e. fossil fuel). Accordingly, there is an abundance of this material and the so-called scarcity is a marketing ploy to charge higher prices, they said.
The Russians developed the "abiotic" (non-biological) theory of oil back in the 1950's and the idea in recent years was put forth by Dr. Thomas Gold, a professor at Cornell University. Corsi and Smith also argued that global warming is unrelated to the burning of hydrocarbon fuels, citing that carbon dioxide is less than 1% of the atmosphere. We haven't had a new oil refinery built in the U.S. in the last 30 years, said Smith who blamed environmentalists for discouraging these efforts.
The U.S. could lower its reliance on foreign oil by drilling offshore and in Alaska, and Corsi and Smith suggested that there is no shortage of supply, if we dig deep enough. They also were in favor of the increased usage of nuclear power, using the latest technology to increase safety. The second half of the show featured callers with questions for the guests.