What Phil is probably referring to are oil-degrading bacteria, which have been chemically engineered to eat all of the oil and grow as non-toxic first level consumers (like algae, except they eat oil instead of capture light as an energy source), which actually forms a biofilm (like algae, pond scum, etc) that can be eaten by zooplankton, shrimp, and other low-level consumers. I watched a video of it in Microbiology, but can't seem to find it online. The stuff basically comes in 50lb bags of dry powder, then gets mixed with water and sprayed onto the oil. It degrades all of the petroleum- from asphalt and tar all the way up to octane and ethers, and was used to clean up an early 90's spill off of Venezuala (I think) when a supertanker exploded and released it's oil into the water. And though BP might not care about the environmental/nontoxic aspect of bioremediation, the fact that is costs about 25% of what their expensive toxic dispersants does probably would make them interested. Surprised they haven't started with this already, probably would've saved them a lot of grief. Oh, and when there's no more oil to eat, the bacteria just die off, just leaving themselves as fertilizer, basically.
Rob