Although "cheap energy" eventually gets around that. If you had extremely cheap energy, e.g. fusion, you could literally turn atmospheric CO2 and water back into hydrocarbons, and once you've reduced atmospheric CO2 enough, you could run a closed-loop process where you recycle enough hydrocarbons out of the air and water to balance out what's burned for fuel.

It makes sense to do this if hydrocarbons are still more energy-dense than batteries, for instance. If we end up inventing fusion power before we invent an electric jet airliner, for instance.