GULF OIL SPILL

Is it Time to PANIC?!

BP PLC, facing rising public anger in the U.S., began Monday its third attempt to contain oil from its leaking well in the Gulf of Mexico, but the risky operation could make the spill worse in the short term.

The latest procedure involves slicing off the leaking pipe at the top of the well's broken blow-out preventer, placing a cap over the leak and channeling the captured oil and gas to a vessel on the surface. BP officials said the procedure could take from four days to a week, and it already has two different caps on the ocean floor, ready to be deployed. Wall Street Journal

Over the weekend BP has admitted that the latest effort to stop the leak, operation "top kill," has failed. But no one worry because they announced today that they have a NEW PLAN!!! Oh boy, a new plan! I'm really sure this one is the one. 

Look, I am all for BP using creative solutions to fix this problem but something tells me that they have already exhausted the things that they really thought might work. I mean you don't save your best stuff for plan number four or five or whatever number they are up to at this point. 

I am staying as optimistic as anyone that this bullshit won't affect mini season this year, but we are 57 days out and now BP is saying this latest plan might INCREASE the oil. Throw in the possibility that a hurricane can cause some unforeseeable mess and I ask you this, is it time to panic?