Opportunity cost disater or OCD is when the opportunity cost of the strategy that is choosen is greater in extent than a certified disaster would be. In many cased net loss of opportunity is huge, way beyond what occurs in a normal disaster.
Even when things are great and everyone is happy with the chosen alternative like some people are with urban sprawl, the lost opportunity of the strategy can be so large that it equals or surpassses a legally defined disaster or disaster area.
The Iraq war is an opportunity cost disaster. There are a lot of bad ideas out there but these guys put a lot of thought into making it this bad. I can't think of much worse of an alternative, but I am sure they will, as it is getting worse all the time.
Some people living in this urban sprawl think they are in paradise but this is a total opportunity cost disaster. A hurricane wipes out the crops but sprawl eventually wipes out the farm houses and crop land, covers the best soil, eliminates the ecology and native plants and animals, and put's it in a tomb of concrete and asphalt. You can everywhere but it will cost 10 dollars in gas there is no there there.