Yep, it is a fully plausible theory. Starting with the timing of the mysterious and baffling seemingly random statement from Obama that he was considering to lighten up on offshore drilling just a few weeks before the tragic event on the Deepwater Horizon, followed by the visit from the BP exec to the Deepwater to pressure the crew to risk a blowout which would be a clever coverup to further throw the Coast Guard dogs off any scent of a man made disaster.
AND there are enough potential motives out there to sink a battleship