The quick answer is NO!
In fact mineral oil is a pretty nice ingredient to have in most skincare products because its so gentle on skin.
Many people have been put off of mineral oil over the years because of its negative press as a "dirty" derivative of industrial crude oil. Yet although it is true that mineral oil is derived from crude oil, it is hugely important to note that this oil is a completely natural ingredient much like the wealth of "all natural" ingredients highly praised by millions of people that believe natural substances are more gentle to skin than synthetic.
Indeed many highly praised natural ingredients are derived from unappealing sources but that once purified are perfectly good and safe to use in a wealth of skincare products. In fact cosmetic research has shown that mineral oil is among one of the most gentle and effective substances for rehydrating dry skin.
The only major issue with using vast quantities of mineral oil in the cosmetic industry is that it is derived from an unsustainable product (crude oil) however as mineral oil is just a by-product from crude oil extraction its use is actually an good way of ensuring less waste during the oil extraction process.