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What you have written is absolutely wrong and totally misguided. And what the Bible says has got nothing to do with anything.

Oil exists in a tiny proportion of the Earth's crust and is largely statically confined within geological formations where it remains for millions of years until we - or some other event - releases it. It has no role in cooling the planet except insomuch that the sequestered carbon is not contributing to global warming.

The answer supplied above is accurate.