Why are we drilling in 5,000 feet of water in the first place?

Here's an excellent question from Charles Krauthammer:

"Why are we drilling in 5,000 feet of water in the first place?

Many reasons, but this one goes unmentioned: Environmental chic has driven us out there. As production from the shallower Gulf of Mexico wells declines, we go deep (1,000 feet and more) and ultra deep (5,000 feet and more), in part because environmentalists have succeeded in rendering the Pacific and nearly all the Atlantic coast off-limits to oil production (see map above).

And of course, in the safest of all places, on land, we've had a 30-year ban on drilling in the Arctic National Wildlife Refuge.  So we go deep, ultradeep — to such a technological frontier that no precedent exists for the April 20 blowout in the Gulf of Mexico."