Laboratory Crude Oil

Years ago I recall reading a wealthy individual put to rest the cliche by making a silk purse out of a sow's ear (thought uneconomically). Decades ago, man-made diamonds were shown possible with enormous hydraulic presses and heat (a PBS program document one Russian lab though many exist. Interestingly enough, maybe there will be a market in non-industrial diamonds - Cremation Diamonds). I was curious to find the thoughts on where crude oil comes from and if anyone has, for the sake of fame, tried to produce it in a laboratory. While it appears plant decompositon and pressure produces coal, some are divided whether crude oil is the result of microscopic bacterial decompositon and/or larger animal (dinosaur) decomposition. Note: it it the incomplete (oxygen deprived) decomposed material that is required to be put under pressure. Before recent laws, my city broke down our sewage with bacteria and pumped the sludge into a deep ocean channel (now they are required to perform a more complete "decompositon" and dispose it on land). What if it were found that crude oil could be a renewable resource from this type of activity (albeit it may take many many years it's under pressure already)? Maybe none of this has been attempted because it's too easy to extract the easy energy via methane. We need a deep pocket person who wants a challenge (like those in the Xprize) to go for it.

Ok, what about the dinosaur equivalent? You can pick the animal of choice. I'll let your imagination run wild about the prospects there (will the source material be what was destined for the fat rendering plant or the funeral plot :(.