There is one other component of that calculation, pressure. The pressure difference between the surface and the sea floor is tremedous. The oil and gas expand as they near the surface.
The Blow Out Preventer is not in the picture... it must have been torn off in the explosion and maybe laying on the opposite side of the video camera... all this going on about 1 mile below the surface... an Exxon Valdez every 2-4 days... while the President has an interview talking about why Lebron James should come to Chicago to play basketball... yep, priorities are subjective... whatever is important to the people in the Gulf states is not necessarily the issue of highest presidential importance - and definitely not to BP. If I can avoid buying their products, I will - for the rest of my life.