Washington (CNN) -- A BP official says a gusher of oil pouring from its damaged Gulf of Mexico well could be shut off as early as next week.





BP Managing Director Bo Dudley said Thursday night the company will pump fluids into the well this weekend in the beginning of a process that -- if successful -- could lead to the leak finally being closed off in a matter of days.





"If that option doesn't work, we've got a second and a third option we'll do after that," Dudley said on CNN's Larry King on Thursday. "We're hopeful that next week we'll be able to shut it off."





Earlier in the day, BP acknowledged that the underwater gusher is bigger than estimated to date, as new video showed a cloud of crude billowing around its undersea siphon.





Company spokesman Mark Proegler said Thursday that the siphon is now drawing about 5,000 barrels (210,000 gallons) per day up to a ship on the surface of the Gulf -- as much as government and company officials had estimated the spill was pouring into the Gulf every day for a month. Proegler declined to estimate how much more oil was escaping.





BP America Chairman Lamar McKay said Wednesday that the figure used by the oil spill response team had a degree of "uncertainty" built into it. But figures by independent researchers have run up to many times higher: Steve Wereley, a professor of mechanical engineering at Purdue University, told CNN's "American Morning" that the spill could be as big as 20,000 to 100,000 barrels a day.





And members of Congress released video from the company that showed much more oil pouring out of the damaged well than the siphon was capturing. Rep. Ed Markey, who leads a House subcommittee investigating the disaster, told reporters, "I think now we are beginning to understand that we cannot trust BP."





"People do not trust the experts any longer," said Markey, D-Massachusetts. "BP has lost all credibility. Now the decisions will have to be made by others, because it is clear that they have been hiding the actual consequences of this spill."





Meanwhile, the Coast Guard announced the creation of a federal Flow Rate Technical Group to assess the actual flow rate from the well. Coast Guard Capt. Ron LaBrec said that Adm. Thad Allen would oversee the team, which will include members from the Coast Guard, the Minerals Management Service, the National Oceanic and Atmospheric Administration, the Department of Energy, the U.S. Geological Society and others from the science community and academia.





The peer-reviewed team, which has already begun its work, is to determine the flow rate from the beginning of the incident to the present, LaBrec said.





The Obama administration announced Thursday that it has ordered BP to release all data related to the massive spill, including environmental sampling analyses, internal investigation reports and details of the cleanup effort. In a letter to BP Group CEO Tony Hayward, Homeland Security Secretary Janet Napolitano and Environmental Protection Agency Administrator Lisa Jackson told BP to post that information on a website and update it daily.





"The public and the United States government are entitled to nothing less than complete transparency in this matter," they concluded.





The spill began with an April 20 explosion and fire that sank the drill rig Deepwater Horizon two days later. Eleven workers were lost with the rig, which was owned by drilling contractor Transocean and hired by BP.





The resulting slick now threatens the coastal marshes of southeastern Louisiana, where brown, syrupy oil made it past protective booms and into the wetlands near the mouth of the Mississippi River on Wednesday.





Over the weekend, BP inserted a piece of pipe into the larger of the two leak points and began drawing oil from the undersea gusher, located about a mile underwater, up to a ship on the surface. It also has been laying booms out along barrier islands and spraying hundreds of thousands of gallons of chemical dispersants on the surface and near the sources of the leak.





But that element of the response came under new fire as well on Thursday, as the EPA ordered
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