You do a good job providing your own answer:
A little bit tougher to answer, but I believe the answer is YES. Let me illustrate.
Let's say that the year is 1816 instead of 2016. And let's say that you happen to be a slave on a cotton plantation in Mississippi run by a plantation owner who is Methodist. And let's say that to prove that he is a nice guy he actually gives you Sunday off and has the local Methodist preacher to come out to his plantation every Sunday after he attends church in town and he feeds him a big chicken dinner and then he comes out to the cabins and preaches for you and all the other slaves. The preacher tends to preach from just a couple of passages:
Ephesians 6:5
Slaves, be obedient to those who are your earthly masters, with fear and trembling, in singleness of heart, as to Christ;
Colossians 3:22
Slaves, obey in everything those who are your earthly masters, not with eyeservice, as men-pleasers, but in singleness of heart, fearing the Lord.
Titus 2:9
Bid
slaves to be submissive to their masters and to give satisfaction in every respect; they are not to be refractory,
Or perhaps from Philemon emphasizing how it is that Paul sent the slave Onesimus back to Philemon, his owner, even though "I would have been glad to keep him with me, in order that he might serve me on your behalf during my imprisonment for the gospel; but I preferred to do nothing without your consent."
Can you see how one might interpret BASED ON THE BIBLE an idea that slavery is justified and approved? And people really did, in all sincerity, produce these interpretations. But, I would argue that even though they did so in sincerity and based on the Bible, that they were nonetheless wrong, completely wrong, that there is nothing justified about slavery.
200 years later the issues that we debate may have changed, but the potential for misinterpreting them, or interpreting them in light of what we want to hear them say is just as strong as ever.