Ellington

In the company's newest effort to contain the oil gushing into the Gulf of Mexico, BP officials said Sunday that they are making progress with a plan to place a new cap on the geyser, The Associated Press reported yesterday.

After several failed attempts to contain the leak, BP officials said they will not know for several days if the new cap will succeed. On Saturday, the company removed an old cap to make way for the new one, causing more oil to temporarily gush into the water. The New York Times is reporting that the new cap could eventually allow BP to collect all the oil from the damaged well, which government estimates place at up to 60,000 barrels a day.