It's absolutely true. Daniel Yergin wrote what is largely considered to be the definitive history of oil and makes the compelling case that modern humanity is only possible because of our 20th century transformation into Hydrocarbon Man. Kerosene lengthened the working day, oil created the post-war society we currently enjoy and made possible the amazing increase in agricultural productivity over the past several decades.

For all its ills and drawbacks, oil made modern civilization possible.