The vast majority of it was stored underground as petrochemicals. A fact made immediately apparent by looking at like any chart. Is this a serious conversation?
What if I use what would otherwise be a waste product to create something people are willing to pay for? For example sawdust. Is that not value creation?
Consider Japan, for example. No petrochemicals. No natural resources. Economic powerhouse.
Consider Russia. Floating on oil. Not a wealthy country.