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Just because oil is cheap now, doesn't mean that it will always be cheap. The easy to drill places are running out of oil, or propping up countries that have some dislike for the western world. And drilling under to ocean isn't the easiest thing to do.
And I don't care that much about the CO2 emissions, but it's the other pollutants, you wouldn't want to live in a house with a car running in the garage, but all these cars, planes and other sources are putting lots of crap into the air.
And gas powered cars have really complicated engine design compared to the few moving parts electric cars have.
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