Personally, I feel that the drinking is what probably caused this accident. Yes, the car was fast and everything-but you are all assuming the driver had no experience in it. Since it belonged to his dad, maybe he had driven it quite often. It sounds like some people feel he shouldn't be driving a fast car just because he is young. I know a lot of people that age who have extensive experience with fast cars (who are from familes who don't have ferrari type cars), maybe he was one of them.
There are so many things I want to say in response to this, but I'll try to be brief.
1. I am definitely saying he was too young to be driving a Ferarri. There is no way on God's green earth that this idiot was experienced enough to be driving it. Don't lump a Ferarri in with your typical "faster than average" vehicle. To do so is like saying a Cessna pilot with 100 hours could land the space shuttle.
2. What ultimately killed this kid was an absolute lack of parenting. For some reason, he thought it was okay to break the law by exceeding the speed limit, break the law to drink underage, break the law to drive after drinking underage, and break the law by putting someone on your lap to steer.
No one will convince me to feel sorry for this moron. Through their inability to raise a child who obeys the laws of the land, his parents killed him, plain and simple.