A quite controversial  question that needs careful appraisal of any pros and cons. On face value possibly absurd  but consider the question in it's entirety and try to avoid any potential propaganda traps.

Like all the questions sources for both sides of the argument can easily be found, the standard green organisations are a good starting point e.g. Greenpeace as is The World Bank. Some areas are quite balanced whereas others are possibly are a bit biased, e.g. http://www.textbookleague.org/36exx.htm, http://www.mcspotlight.org/beyond/companies/shell.html,http://www.nichols-dezenhall.com/ndcurstu.html and http://www.polyconomics.com/searchbase/11-29-00.html are all starting points, remember to pursue your own lines of investigation.

Also do forget the wider contexts of what the oil is used for.