About 110 years ago we had an oil boom here in NE Indiana. This was swampy land immortalized by the Gene Stratton Porter books. Gushers caused oil to cover the roads, flow down the side ditches, and make the Wabash river inhospitable for mussels, birds which were part of the flyway to Canada and the Arctic, and probably the catfish and giant Gar.
Gas was burned for months. and botanists began to study the plant life which was springing up in the vicinity of these "flambeaux".
The smell of oil always permeated the area, and came to be considered a welcome change from that of hog manure.
Being ignorant folks, we were content to just let the effects of the oil disappear, and the wildlife populations return to normal which soon occured after virtually all the oilfield equipment and workers left for greener (perhaps in this case blacker) pastures in Oklahoma. The oil is still there but nobody cares. There are now sufficient enviromental restrictions to prevent pumping it. (there is usually a little salt water with the oil to be disposed of, and salt water is now considered "hazardous waste")
BP will of course file bankrupcy and continue under a different name, and the US government will simply print more money. The Chinese will buy up anything of value here, and inflation will reduce the huge dollar numbers to insignificance. (When I was in France in 1960, they had just had a devaluation making a "new frank" worth 1000 "old franks")