Just as the world has a limited supply of Oxygen and water. Both are just as necessary as oil - even more so. Should we reduce our use of those as well?
Hydrocarbons are not the only world source of energy. They just happen to provide the best combination of energy density vs. cost to use today. When the price of hydrocarbons increase, other forms of energy will be available. That's how markets work. You don't have to decreee or subsidize alternatives - they happen at the right time.