It really feels that with proper governance it should be possible to both extract the oil and benefit the environment overall. Reinvesting the profits in environmental improvement projects (both locally, but particularly in other places where small investments can go a long ways) seems like it should be possible to outweigh the damage.
That said, probably infeasible to achieve that type of governance in the US these days, so this Audobon approach of putting its foot down is possibly the most viable.
It is possible, but not when money is on the line. We see this issue everywhere. Nuclear power plants can be made safe, but then checks aren't done when they should, maintenance is allowed, they're kept running being the design life, etc.
That said, probably infeasible to achieve that type of governance in the US these days, so this Audobon approach of putting its foot down is possibly the most viable.