I suppose if one thought both a) it isn't really so bad and b) the government is going to deliver a (self-)righteous spanking to them and spook other investors, one could buy call options for next year.
Plugged in some estimates if bought now and sold on August 1st with the same IV (implied volatility) at different price points assuming it goes back to it's normal trading range of 50 - 60. Profit per contract (% gain in parentheses - divided by current ask price of 214) at different stock prices for BP.
50: 187 (87%) 55: 479 (224%) 60: 852 (400%)
The risk of losing the entire premium of 214 per contract by Jan 2011 doesn't seem to likely and the risk/reward ratio seems to be favorable.