what happens to the hole?

i was wondering, while watching the news, and reading what people have written about the BP oil spill, (oil spill...it sounds so stupid, like 'i spilled some milk')  isn't there a hole left behind?  i mean, there is all that oil coming out, isn't there a void left behind?  does the ocean water just fill it in?  they have been drilling oil for years, is that just what happens, it fills with water? does it collapse?  will we be in for a 'lost world of atlantis' again?

this question is what comes to mind when i watch these stories, and i wanted to find out.  so i googled it. (o.k. so i "ask.com"ed it.)   the more i read about the disaster, and the possible scenarios it got a little scarier.  so far, what happened apparently could get a lot worse.  it already looks so bad, it seems like it already was a worst case scenario.  i feel so sad when i see all those poor creatures covered in that slimy goo, knowing millions of birds and sea creatures will die, maybe even become extinct.

i think of all the sci-fi and monster movies i have seen, nothing close to this.  i think i need to get off the computer and go sew something...i am headed for a dark (oily) place.  i need some sparkle.