It's not looking good. Catch this opening from the LAT:
The oil spill in the Gulf of Mexico presents BP Exploration and Production with a problem of unprecedented severity -- a limitless gush in very deep waters -- forcing the London-based company to grasp for fixes that have never been tried before. The problem with the April 20 spill is that it isn't really a spill: It's a gush, like an underwater oil volcano. A hot column of oil and gas is spurting into freezing, black waters nearly a mile down, where the pressure nears a ton per inch, impossible for divers to endure. Experts call it a continuous, round-the-clock calamity, unlike a leaking tanker, which might empty in hours or days.