The part about oil being the black people's ancestors is a bit
....and I have no problem dealing with alternative theories on issues. But that's a bit of stretch, there may be fossil and other organic material though.. Plus there is a theory called abiotic oil, which means that the earth itself, using high pressure and bacteria creates oil, meaning there is no shortage of it.
However, the industry though is interesting. He is on point about the cycle of oil in many products we don't think about come from petro and petro/industrial waste.
Check this thread too
http://www.thecoli.com/threads/colorado-becoming-the-capital-of-industrial-hemp.321785/