Mineral oil comes from crude oil (the same oil that produces gas for and oil for cars.) It's purified in a process involving fractional distillation that make sure it's stripped of any harmful chemicals. That's why mineral oil is safe for skin.
Hopefully science will develop alternatives so we can keep running our cars, heating our houses, and making plastics and all the other stuff that crude oil is used for. (Including cosmetic ingredients!)
I have faith in science what worries me is the corruption of the politicians that try to twist science to their own ends like antichoice lawmakers and their fear mongering *shivers* Also greedy corporations...