BP Cuts Pipe, Readies Cap

We wouldn’t recommend getting your hopes up, but BP is once again ready to try to halt the Gulf oil leak: The company has successfully severed the leaking pipe and will attempt to cap the well on Thursday—but an irregular cut will complicate the effort. It took longer to slice the pipe than expected after the saw became stuck halfway through the job on Wednesday. If BP successfully caps the leak, it will not halt the oil leak completely; rather, the oil will continue to flow and the majority of it will be siphoned to a tanker on the surface. If this attempt fails, the next chance to stop the leak won't be until August, when relief wells are complete.