It’s astounding to think about what $1 Billion dollars (and counting) in clean-up costs could build in terms of infrastructure for trains, buses, trams, and the like. BP transit?
Off-shore production accounts for a very small percentage of our oil consumption (see quote, below).
Given that fact, funds spent on off-shore production would be better spend on public transportation instead, reducing oil consumption by a far greater amount than we pull out, or plan to pull out, from the seas.
As noted in the WaPo,
domestic production will increase by only a trivial figure as a result of new drilling offshore — a 1.6 percent increase between 2012 and 2030, topping out at .2 million barrels per day by 2030. By comparison, the United States currently consumes almost 20 million barrels per day, of which over 13 million barrels per day is imported.