Which is precisely why government intervention is required to address this problem. Individuals will make decisions that are short sighted, self-centered and potentially not in the best interest of the planet.

I don't fault them for it, I'm guilty of it in some situations.

It's a hard balancing effort. On one hand, humans can't be counted on to be rational actors, especially in terms of long-term benefit. On the other hand, the system is so complex it may not be able to be managed well at the large government level.

No, it actually makes sense: burn all the oil now, to keep yourself warm in winter, and the future generations will be kept warm by the fact that climate change raises temperatures, so there are no winters anymore :-D