Russia's scientists early on concluded that oil was not the result of decomposing dinosaur carcasses, nor created from the liquification of primordial forests. 

Researchers in Russia concluded that oil was not a fossil fuel like coal!

Another "fairy tale" brands oil as a "non-renewable" resource - one we will soon be running out of.  Fact is, oil wells after being pumped dry, are known to "recharge" with more oil over a period of time.

Imagine the disruption in pricing when everyone understands what Russia figured out first: that oil is continually being produced by our planet!

Oil is a renewable resource.

It is not a rapidly renewable resource, but rather a slow, long term renewable resource. 

This wonderful, but fragile planet of ours makes oil deep underground. The process is somewhat like the way the Earth creates diamonds from carbon. Oil results from natural processes converging deep below the Earth.  Russian scientists pinpointed oil's genesis  to four separate forces interacting with carbon and hydrogen elements found in granite formations deep underground.  

The four forces include, as with the creation of diamonds, the intense heat from the planet's molten iron core.  Add to that heat the incredible pressure found miles underground.

Russian scientists also think the magnetic force created by the Earth's spinning molten iron core - which creates both magnetic poles and protects our planet from much of the sun's destructive radiation - has a role in the genesis of oil.

Picture the phenomena of the creation of oil as a kind of "sweat" flowing out of nearly molten granite rock formations deep underground brought about by the heat and pressure combined with the Earth's powerful electromagnetic field. 

The 4th force in the process causes rivulets of oil to flow outward towards the planet's surface.  That force is the centrifugal force generated by the Earth's rotation.  The Earth's rapid rotation generates so much centrifugal force that oil is set in motion to trickle slowly out toward the surface.  Then, at various places closer to the surface, the oil becomes trapped in vast pools beneath domed rock formations.

The Russians went on to figure out where the most likely locations for oil are located, and immediately began to develop technology necessary for deep drilling.  By drilling deep wells the Russians stike oil 6 out of 10 times.  In comparison, only about 2 of 10 of the shallow wells drilled in Texas or Louisiana will yield oil.

Russia saw an opportunity and began to export its deep drilling technology to places like Vietnam and  North Korea.  Today Russia is at the top of the list of oil producing nations in the world.
Abiotic Oil
Who benefits by misleading people about the source and nature of oil?
"Big Oil" benefits because lies about oil scarcity help keep prices high. 
Those with a financial stake in the "Cap and Trade" carbon tax scheme also benefit.  Al Gore is the best known promoter of the carbon tax scheme. 
When the scheme is passed, and the chief "fossil fuel myth" promulgator, Barack Obama, signs his name to it, his pal Al Gore
becomes a billionaire.
Don't take my word for it. Get the help of a skilled research librarian to find published scientific proof of the following:
The "fossil fuel" fallacy which attributes the genesis of oil to once living matter, is  just one of many enduring "fairy tales" created for political and economic advantage which has passed into our vast "common knowledge" without any valid scientific basis.
Years ago Russian scientists were tasked with learning all they could about the nature and source of oil.  Russia's economic future hinged on having  access to oil.  The dissolution of the old USSR meant Russia's usual sources for oil could no longer be counted on.
Footnote:  At first it was difficult for me to wrap my head around this concept of the Earth creating oil, just like it might be for you.

Consider the recent Deepwell Horizon catastrophe. BP's well was not only drilled below 5000 feet of water, but went down 13,000 feet below the Earth's surface. 

Ask yourself:  How could it be possible for such a colossal herd of prehistoric dinosaurs (or, a vast forest) to have possibly ever become buried way down there in quantities so large as to produce so much oil? 

The answer I come up with is that is was an impossibility.  Not improbable, not unlikely. Simply, it was not possible.