D-D-Drill B-B-Baby D-D-Drill: BPs Black Money Tide

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The Coast Guard conceded Saturday that it’s nearly impossible to know how much oil has gushed since the April 20 rig explosion, after saying earlier it was at least 1.6 million gallons – equivalent to about 2 1/2 Olympic-sized swimming pools. The blast killed 11 workers and threatened beaches, fragile marshes and marine mammals, along with fishing grounds that are among the world’s most productive.

Even at that rate, the spill should eclipse the 1989 Exxon Valdez incident as the worst U.S. oil disaster in history within about a week. But a growing number of experts warned that the situation may already be much worse.

The oil slick over the water’s surface appeared to triple in size over the past two days, which could indicate an increase in the rate that oil is spewing from the well, according to one analysis of images collected from satellites and reviewed by the University of Miami. While it’s hard to judge the volume of oil by satellite because of depth, it does show an indication of change in growth, experts said.

“The spill and the spreading is getting so much faster and expanding much quicker than they estimated,” said Hans Graber, executive director of the university’s Center for Southeastern Tropical Advanced Remote Sensing. “Clearly, in the last couple of days, there was a big change in the size.”

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Oil industry experts and officials are reluctant to describe what, exactly, a worst-case scenario would look like – but if the oil gets into the Gulf Stream and carries it to the beaches of Florida, it stands to be an environmental and economic disaster of epic proportions.

The Deepwater Horizon well is at the end of one branch of the Gulf Stream, the famed warm-water current that flows from the Gulf of Mexico to the North Atlantic. Several experts said that if the oil enters the stream, it would flow around the southern tip of Florida and up the eastern seaboard.

“It will be on the East Coast of Florida in almost no time,” Graber said. “I don’t think we can prevent that. It’s more of a question of when rather than if.”

As bad as the oil spill looks on the surface, it may be only half the problem, said University of California Berkeley engineering professor Robert Bea, who serves on a National Academy of Engineering panel on oil pipeline safety.

“There’s an equal amount that could be subsurface too,” said Bea, who worked for Shell Oil Co. in the 1960s when the last big northern Gulf of Mexico oil well blowout occurred. And that oil below the surface “is damn near impossible to track.”

Louisiana State University professor Ed Overton, who heads a federal chemical hazard assessment team for oil spills, worries about a total collapse of the pipe inserted into the well. If that happens, there would be no warning and the resulting gusher could be even more devastating because regulating flow would then be impossible.

“When these things go, they go KABOOM,” he said. “If this thing does collapse, we’ve got a big, big blow.”

BP has not said how much oil is beneath the Gulf seabed Deepwater Horizon was tapping, but a company official speaking on condition of anonymity because he was not authorized to discuss the volume of reserves, confirmed reports that it was tens of millions of barrels.