Hope Down Under: BP Ready to Lower Oil-Halting Cap

Finally some progress a mile down.

BP this morning successfully sliced the pipe gushing oil. Its a ragged cut, the important next step isnt exactly a piece of cake, but the cap is poised just above the gusher at this moment. Adm. Thad Allen told reporters in Metarie, La. that BP is two hours away from lowering it into place.

Fingers crossed. Well let you know how it goes as soon as we do.