Syphoning Oil?

Am I the only person in the world who is put off by BP's bleating about using a siphon to catch the oil leaking from their deep water well?

Wouldn't that require catching the oil and delivering it to some place lower-down than the well?

Or perhaps they mean just putting a pipe on top of their private volcano and having it burp its insides all the way to the ocean surface?

Doesn't there have to be some pumping going on somewhere? Or at least an elevator to the surface...

Or am I missing something that - perhaps - wasn't taught in EE school?

And, by the way, where is the news about other oil companies and other countries - trying to help? Where is Red Adair when you need him... oh yes, he died a few years ago.