A consensus is building in the geo sciences that oil, commonly thought to be a by-product of decaying plants and dinosaurs, is in fact produced by geological forces. In short, huge pockets of methane, deep under the surface, turn into crude oil and natural gas when subject to immense pressure and very hot temperature. This naturally ocurring crude is then sometimes forced up to or near the surface, where we can find it and extract it.
He was quoted as stating that "competent physicists, chemists, chemical engineers and men knowledgeable of thermodynamics have known that natural petroleum does not evolve from biological materials since the last quarter of the 19th century."
Dino-oil may soon be perceived as an idea just as silly as the flat earth. And do you know what that means? It means I'm selling my 1970 Oldmobile 442 W-30 at precisely the wrong moment! Damn that Bush!