Is the cure for the BP gusher in the Gulf of Mexico worse than the problem?

The oil gusher in the Gulf of Mexico is a human-made catastrophe that has the potential to eclipse many natural catastrophes. BP, the company that has taken responsibility, as part of its efforts to mitigate the effects of the “spill”, (that word is an understatement) has used a dispersant containing 2-butoxyethanol. The main property of a dispersant is that it disperses the oil, and allows it to be absorbed into the water. Is this the same as cleaning the oil up, or is it adding another very toxic chemical that makes the plume less visible?