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From NYTimes.com

A group of experts studying the Gulf of Mexico oil spill has concluded that estimates about the rate of the spill were initially too low and that the explosion of the BP oil rig has already surpassed the Exxon Valdez spill as the largest oil disaster in U.S. history.

But, with that sobering news comes some hope.  BP’s latest plan to slow the spill, a tactic called a ‘top kill’, appears to be working, though officials are remaining only cautiously optimistic.  The strategy involves injecting heavy drilling fluids into the oil wells to stem the flow of oil and gas.

Though BP reps said that the top kill attempt could fail at any moment, outside observers say that the chances of effectively stopping the leak increase with every passing minute.

Eventually, if enough of the fluid, called mud, is pumped into the wells, the weight will overcome the upward pressure from the escaping gas and oil, thus stopping the leak.

President Obama responded to critics of his administration’s handling of the situation during a news conference today.

“Those who think we were either slow on the response or lacked urgency, don’t know the facts,” Obama said. “This has been our highest priority. … “inevitably, in something this big, there are going to be places where things fall short.”