Early Reports: New Containment Cap Appears to Have Stopped Spill


That oil-cap replacement plan BP set into motion over the weekend? Well, believe it or not, it looks like it may very well mark the end of the oil-spill nightmare. The company has successfully placed the new containment cap on the well, and — though tests are still needed to determine the effectiveness of the new cap, and BP has yet to make an official statement about the development — initial reports are tentatively optimistic, claiming the oil flow has been quelled.

There does not appear to be oil flowing into the Gulf of Mexico,” said a PBS NewsHour tweet early Monday evening. “Details of the new containment cap will be confirmed in the morning. The new containment cap has been placed & will be pressure tested.”

Meanwhile, in the continuing offshore-drilling back-and-forth, the U.S. Interior Department moved forward Monday with a new moratorium to block deepwater and oil and natural-gas projects. The measure will be in effect through November 30, 2010, or until deepwater drilling operations are considered safe again.

Containment cap on BP well appears to be in place [CNN]