Update on the latest underwater oil leak video 5/12/10 5:47pm:
The Deepwater Horizon Incident Response Center has released a shocking new video of the BP oil pipe leak.
See below for the first video released by the Coast Guard last week from the spill.
BP (NYSE:BP) has released footage of their remote operating vehicle (ROV) successfully capping one of the three leaks that is pouring an estimated 5,000 barrels of oil a day into the waters off the Gulf of Mexico.
This is the first video I've seen of the oil leak itself . The sheer volume of oil gushing out is quite incredible - you can see it at about the 2 minute 15 second mark of the video.
The ROV used a robotic arm to cap the leak, which did not reduce the total volume of the oil leak, but according to officials makes the task of capping the other two leaks much easier. Time is getting short for BP as reports are coming out this afternoon that oil has begun to wash up on the shores of a major Louisiana wildlife refuge.
Video footage provided by BP via the United States Coast Guard.