The biosphere is a metastable system. We are in the process of knocking it out of the state in which we have thrived, to something far less hospitable to human life. In the process so many of these fossil fuel reserves will burn. Various previous carbon sinks are already sources.
There is always a best and worse case scenario, so always a reason to take action, but a great deal of harm is already locked in.
Human ingenuity is a hell of a thing, but forget Musk's always-an-obvious-con of colonising Mars, there is a much better chance (imho) that humans don't survive re-colonising this new planet Earth over the coming centuries to millennia than travelling across the galaxy in what is, let's face it, a Star Trek inspired fantasy.