Even though everyone is pretty excited that the new containment cap has stymied the oil flow in the Gulf, it’s only a temporary solution and BP officials are, uh, "still working" on that permanent fix. Today’s tactic? Something called "static kill" that involves pumping mud into the well to force oil back into the reservoir below. Because the oil pressure is lower than expected, the mud apparently stands a chance in its absolutely disgusting fight versus crude oil. Who wants to go for a dip in the Gulf today?
Meanwhile, since the London Times reported that beleaguered BP CEO Tony Hayward might soon step down, shares of BP have spiked in London. The claim that Hayward’s on his way out has been quickly and vehemently denied by BP, but given the events of the last few months and the market's reaction to the rumor, his days are probably numbered.