If you consider this:
"The climate of the Cretaceous is less certain and more widely disputed. Average temperatures were higher than today by about 18 degrees F (10 degrees C)."
http://what-when-how.com/global-warming/mesozoic-era-global-...
Then this seems a bit odd:
"an astonishing 16.2 degrees"
That sounds accurate if they mean Celsius but this is the New York Times, which I believe uses Fahrenheit as a matter of style, and they write: "Scientists predict global disaster at 3.6 degrees Fahrenheit over pre-industrial temperatures; there is enough fossil fuel extracted and within reach to raise temperatures 16.2 degrees" which confirms the use of Fahrenheit.
It's frightening to consider the impact it would have if we really did dig up all the fossil fuel, including the stuff that we probably won't be able to reach. It's worth thinking about, since technological breakthroughs now allow us to reach a great deal of fossil fuel that was considered uneconomic 30 years ago and, likewise, 30 years from now we might be able to reach fossil fuel that we now consider unreachable.
Assuming large concentrations of life, allowing the formation of fossil fuels, starts with the Cambrian, or a bit after, we can say that "all our fossil fuels" refers to the deposits that built up over the course of 500 million years. If we dug all of that up and burned all of it, then we should arrive at a temperature that is a bit hotter than anything that ever occurred before. If the Mesozoic saw average temperatures that were 10 degrees Celsius higher than today, then something like 16 degrees Celsius would be a reasonable guess. Or higher.