Classic peak oil would be better for us long term, get us off the stuff. Instead, it is looking like there is enough fossil fuel to burn so that we could really screw up the atmosphere.
(Not using the terminology of "better for the planet", etc, because the planet will be just find, just a few flesh wounds. We could be screwed.)
Guess I'm enough of an optimist that I think that simply harnessing the constant power of the sun, along with wind, tidal, etc, has got to be cheaper in the long run than all that complicated extracting and refining from more and more remote locations.