From Paleobiology to the Petroleum Civilization Economy: Energy Dynamics, Global Economic Transformation and Policy Implications

This academic article analyzes the relationship between the paleobiological origins of petroleum resources and the emergence of oil civilization and the modern global economy. It explains the formation of petroleum from microscopic marine organisms in ancient oceans during the Mesozoic era, as well as the development of the petroleum industry since the nineteenth century and the growing role of oil as a primary energy source in the industrial economy. The study examines the dynamics of energy crises and their impacts on the global economy across different periods, including the oil crises of 1973 and 1979, energy market volatility during the 1990 Gulf War, the Asian financial crisis of 1997, the global financial crisis of 2008 and the unprecedented negative oil prices during the COVID-19 pandemic in 2020. These events highlight the role of energy as a structural factor shaping the global economy. The analysis suggests that energy is not only a factor of production but also a key driver of global economic dynamics, international capital flows and geopolitical power structures. Understanding the history of energy from paleobiological origins to macroeconomic systems is therefore essential for developing energy policies that enhance resilience to global economic fluctuations and support the transition toward future energy systems.