It's not because it was "OK" so far that it is going to be OK moving forward, it's just kicking the can down the road and hope for a miracle, and they have done this since people have wondered about greenhouse gases (and this happened very early on).
Note that most of the issues we will be facing was not because of all the conveniences, but just because doing things in a way that was sustainable and/or more regulated would have hit the bottom line of big oil...
At the end of the day, it will not matter whose pockets were lined when there is no more food to feed people...
The people who think oil are or were a "free market" are beyond delusional. No, that was never the case - all the big players are governments, all of it is centrally planned, and all of it is subsidized by the population. That's why it's so cheap.
The reason it's going up in price is BECAUSE we're doing this less, as renewables become more competitive.