Let's not get too carried away, but this article does raise some interesting and important questions about trade-offs and incentives [h/t Eva]. An excerpt:
...we must ask why BP was drilling in 5,000 feet of ocean when there are so many other accessible and safe alternatives. There are large deposits of oil shale in Western Colorado that could easily and safely be extracted as it is now in Western Canada. We have all heard of the huge deposits of oil in ANWR, on Alaska's North Shore. Because of improved drilling technology, all available oil in ANWR can be extracted by using only 2,000 of its roughly 19,000,000 acres.
BP now drills in 5,000 feet of ocean because these better alternatives have been foreclosed to the oil industry. Environmental groups have effectively stymied this safe and relatively easy production of oil in the name of some higher but more nebulous good.