PressWatch: watch the gusher live during "top kill"
The reason that BP is trying 'containment' or 'top kill' is that they want to be able to profit from the thousands of feet of hole that they've already produced. They know it has oil--we all do, now--so they want to "contain" it or plug it at the top ("top kill"), and that way they can save lots of money and still profit from the new "relief well." The new well will use imaging seismic technology and directed slant drilling to access the (considerable) remainder of the old hole. Get it?
In other words, rather than collapse the hole completely, which could have been done easily on April 20th with Navy depth charges, the hole is being saved--for BP profit. Eventually, all these efforts will fail and the Obama Administration will "discover" that it "might be possible" to depth-charge the well so that it collapses and seals. In the meantime the entire Gulf of Mexico is being destroyed, so that the very rich get every chance to save their investment dollars.