Oil... A Renewable Energy Source???

I was thinking back when I used to be a cook... Most spices are alcohol and oil saluable. If this is so, then is biological waste or compost a source to renew or refill oil wells. When spices are mixed with the oil they become the oil. Would this be true with compost? It might need to be chipper up and churned to antagonize the process. But doesn't that make sense? The process may take up to 50 years or so but... That's better than 1,000,000,000 years I think.