The Deepwater Horizon oil disaster is the defining event of our times. Even the Texas schoolbooks of the future will be obligated to mention it (probably in connection with a sin of some sort).
The developing scenario is reaching the Pandora's Box realm of released evils. For a truly frightening assessment, from someone who appears to know of what he speaks, try this blog post. Yes, it's very long, but it explains the physical forces at work here, and the slim chances for human engineering to control it.
What we have, folks, is a disaster movie, worthy of the great distopian disaster movies of all times. Unfortunately, Bruce Willis is not going to save everything in the final 15 minutes.
Where did America go wrong? Very simply, I believe there can be no doubt that the election of 1980 set the course which lead us to this day. The folks who brought you the Reagan Revolution set it all in motion, and the most-rotten of the rotters, present at every rotten, slimy, greedy point, is KBR/Halliburton.