BP (NYSE:BP) Stuck Saw Stalls Oil Containment Effort

As many are hoping and waiting for a positive outcome from BP (NYSE:BP) on their recent cap attempt, their progress is now stalled due to a saw that is stuck over a mile below in the broken pipe. So now again, the progress of containing the oil has stopped.

Thad Allen, Coast Guard Administrator, said on Wednesday that the plan is to free the stuck saw today, and then finish the cut sometime later on in the day. Even though it seems that there is one snag after another, Allen was optimistic, he said they were successful overnight with the first cut using giant sheers.

Experts fear and have warned that this current oil spill containment attempt could be even riskier than previous attempts. The reason for this is as they push on with their fuel containment systems, cutting open the riser could potentially make the oil spill worse. Especially if there was a kink that had been restricting some of the flow of oil.

Ed Overton, a Louisiana State University professor of environmental sciences said, "it's an engineers nightmare. They're trying to fit a 21 inch cap over a 20 inch pipe a mile away. That's just horrendously hard to do. It's not like you and I standing on the ground pushing, they're using little robots to do this."

BP (NYSE:BP) UPDATE: Oil Spill Containment, Live Oil Spill Video

Many are keeping a close watch on BP's (NYSE:BP) live oil spill video and the progress of the oil spill containment. Bob Dudley, BP's Managing Director said on NBC'S the Today Show, "we are well into the operation to put this cap on the well now." As well as their current spill containment operation, which includes attempting to attach another pipe on the blowout preventer, just in a different opening, there is a secondary spill containment effort being considered.

BP is also wanting to construct a new free standing riser, the purpose of which would be to carry the oil to surface, making it more efficient. Plus, with hurricane season already started, the new riser would make it very easy to connect and disconnect the containment pipes as needed due to bad weather. This will not start until well into June.

Watching BP's live oil spill video on Tuesday, it shows robot submarines using circular diamond saws cutting the pipe. The government is estimating 20 million and 44 million gallons of oil already lost, there's no telling what the final numbers will be.

"I don't want to put odds on it, we want to get this thing contained," said Carol Browner, Obama's energy czar, on ABC's Good Morning America. President Obama's administration is closely watching all aspects of the process from temporary fixes, to the oil cleanup efforts, as well as the progress of the relief wells.

BP (NYSE:BP) Third Oil Containment Attempt, Riskier Than Top Kill

Here we go again, BP (NYSE:BP) is on their third attempt to get some sort of control over the worst oil spill in U.S. history. Jon Pack, a BP spokesman said the cutting will commence soon.

This oil containment procedure includes using underwater robots which will cut the damaged pipe from the leaking well. This does risk causing the crude oil flow to become even worse. This latest procedure was approved by Interior Secretary Ken Salazar and U.S. Energy Secretary Stephen Chu.

Once the damaged pipe is cut, then they will try and attach a pipe onto the leak which if successful, would cause the oil to flow to the surface and then be stored. Pack stated that currently the preparation is being done. If everything goes as planned, it should be completed by June, 6th.

This attempt is considered riskier than the "top kill" attempt, because the whole pipe will be cut off at the riser. If unsuccessful, even more oil will be flowing nonstop into the ocean.

BP (NYSE:BP) Ready For "Top Kill" Attempt

BP's (NYSE:BP) has moved equipment in and is ready for its "top kill" attempt on Wednesday. This has never been attempted before at these depths of 5,000 feet below the surface. BP is estimating the success rate being only about a 60 - 70 percent.

If the attempt is a failure, BP has a couple other options they could implement. The first being they would try and cut the damaged riser pipe on the top of the blowout preventer, they would then attach a cap to the riser from the above drillship. The company said if successful this would capture most of the oil.

Another option is to lower a second blowout preventer or a valve. We're heading into the sixth week now since the explosion of the Deepwater Horizon on April 20th and the sinking April 22nd.