To put things into perspective, looking at this list of oil spills [http://en.wikipedia.org/wiki/List_of_oil_spills], this BP spill is pretty damn big at ~220-380 ktons of oil spilled. However, the largest spill in history [http://en.wikipedia.org/wiki/Lakeview_Gusher], back in 1910, was about 1,230 ktons. So it's not definitely the end of the world. It is, however, nasty environmental damage that will take decades or centuries to recover from, and a stiff reminder we need to seek alternative energy sources.