It's no longer the dead-end of the carbon cycle. Since the industrial revolution, this material has been taken out of the ground (by Oil and Gas companies) which is for the most part subsequently burned - of which the final by-product is CO2. This fossil material also goes into making plastics and other chemicals - so the "dead-end of the carbon cycle" is not quite so straight forward anymore.
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These bacteria convert gaseous nitrogen into nitrates or nitrites as part of their metabolism, and the resulting products are released into the environment.
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Fossils are the preserved remains of plants and animals whose bodies were buried in sediments, such as sand and mud, under ancient seas, lakes and rivers. .