Study of fossils has led to important new understanding about how life evolved on earth and about diseases, both ancient and modern. Fossils also help us understand past climates, including ice ages and periods that were warmer than our present climate. Knowledge from the study of fossils is helping geoscientists understand global warming and its effects. By studying the catastrophic extinction of the dinosaurs and many other life forms at the end of the Cretaceous Period, geoscientists have gained insight into the evolutionary implications of impacts by extraterrestrial objects. Investigating the physical and chemical characteristics of fossil organisms that lived during times of drastic climatic change helps us understand the implications of the changes we are making in our own environment. Information about Earth history, practical help in finding energy resources, and information that helps us anticipate the effects of possible environmental changes are not the only benefits derived from fossils. hope this helps :)
