Carbon emissions or not, oil is a finite resource upon which modern society is dependent. Demand increases daily, and while new fields are indeed capable of extraction with new technology, they too will not last forever. Not to sound like an alarmist, but to do nothing as a society to wean ourselves off this dependency is at best negligent and at worst suicidal.
Now coal and natural gas are somewhat different situations. Both are finite, but we won't run out of either for many hundreds of years. That being said, coal in particular releases all sorts of fun toxins when combusted (yes, even with scrubbers) and therefore has it's own inherent risks.
What it comes down to for me is (regardless of whether or not man-made climate change is a reality) it makes absolutely zero sense for the most advanced nations in the world to cling to outdated technology sourced in finite resources.
But I digress...