In this incident specifically, the British Petroleum Company was drilling in the Gulf of Mexico when an improperly capped oil well exploded and killed 11 people last week. Since that day on April 20th, the well continues to feed the ocean roughly 5000 gallons of toxic oil per day. Not only did they lack proper safety precautions but they also don't have a clue how to stop the oil in case of an emergency. As of yesterday the spill has covered nearly 4000 square miles of the ocean's surface.
Offshore drilling would increase domestic production and supporters argue that this would significantly lower the price at the pumps. But at what cost? This could just be another case of one step forward, two steps back. We'd have more gasoline at better prices, but would we be hindering the technological development of hydrogen and electric vehicles while increasing the impact on the environment with carbon emissions and oil spills? There is also no saying how much lower the gas prices would be, if they would change at all.