Here is ehm, the truth, as far as is known.

This is classified at nuclear bomb building schematics level. Even presidents are not told about it, and won't be, unless they understand to play their part.

Oil is not from fossile sources (old plants and animals that turn to oil and gas).

Oil is abiotic.

What this means is, oil comes from thw depths of hundreds of miles. Only the top layers (few hundred feet to few thousand) are usually pumped. But the oil appeared into these "wells" from underground pathways.

Theorerically you can pump oil anywhere, if you go deep enough. Like 10-20 miles at least.

Oil was either created alongside Earth, long ago in its past (Earth is thought to be 4.3 billion years old) or oil and natural gas, are currently being created as we speak, by unknown processes, deep under Earths surface.

They have found methane gas in Saturn planets Titan moon, so it can be articulated did the teradactyls fly there and turn to gas millions of years ago? Ofcourse not.

Gas and oil, also known as hydrocarbons, exist everywhere in the universe.

But, having the population believe in peak oil, global warming or "climate change", all of these serve the control mechanisms that regulate the use of natural resources and it also promotes recycling, so this is why the myth is kept alive.