Final answer:
Petroleum surpassed coal as a valuable commodity in the early 20th century due to the rise of the internal combustion engine and the discovery of major oil reserves.
Step-by-step explanation:
The petroleum industry surpassed coal as a valuable commodity in the early 20th century. While coal was the dominant energy source during the Industrial Revolution, petroleum began to gain importance with the invention and widespread use of the internal combustion engine.
The discovery of major oil reserves in countries like the United States, Russia, and the Middle East further accelerated the shift towards petroleum as a valuable commodity. By the mid-20th century, petroleum had surpassed coal as the most widely used and valuable fossil fuel.