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Fossils are used by scientists to determine the where, what, why, when, and how of ancient organisms. Answering these questions will help in determining the environment and climate in which the organisms existed, adaptations made by the organisms to the environment and climate, type and amount of energy requirements of organisms, feeding habits, reproduction techniques, nesting habits, digestion methods, type of respiration, method of locomotion, hunting techniques, timing and cause of extinction events, and the progression of evolution. Fossils are also key indicators of possible fossil fuel deposits which are of great interest to humanity.

The study of fossils also leads to discoveries and understanding of Earth's processes which can benefit mankind. Study of the Cretaceous-Tertiary extinction event eventually led to the hypothesis that a large asteroid impacted Earth. Some astronomers are currently seeking out and cataloging possible impact asteroids in an attempt to predict such a future cataclysm and help in preventing it.

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