Nobody is saying it isn't a horrible event. As a diver and ocean lover my heart aches too. I am quite certain if they felt there was a method to stop this they would have picked that first...and they did attempt that with the top kill. Taking the cynical view BP would want to cap this ASAP as that would retain as much oil as possible and wouldn't have caused the stock to nosedive.
Really interesting guy just on CNN. Seemed to know a lot about what's going on. Said he thought the cap was in place it just hadn't been closed yet. One of the interesting things he said is the flow you see is oil mixed with gas and 50-70% of the flow is the gas - mostly methane which dissipates on it's own.
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