Today on the Apocalypse Show: Supersonic Methane Tsunami.

Which is, I'm sure, already the name of a band.
Methane or CH4 gas is being released in vast quantities in the Gulf waters. Seismic data shows huge pools of methane gas at the location immediately below and around the damaged "Macondo" oil well. [...] With the emerging evidence of fissures, the tacit fear now is this: the methane bubble may rupture the seabed and may then erupt with an explosion within the Gulf of Mexico waters. The bubble is likely to explode upwards propelled by more than 50,000 psi of pressure, bursting through the cracks and fissures of the sea floor, fracturing and rupturing miles of ocean bottom with a single extreme explosion.

First Tsunami with Toxic Cloud

If the toxic gas bubble explodes, it might simultaneously set off a tsunami travelling at a high speed of hundreds of miles per hour. Florida might be most exposed to the fury of a tsunami wave. The entire Gulf coastline would be vulnerable, if the tsunami is manifest. Texas, Louisiana, Mississippi, Alabama and southern region of Georgia might experience the effects of the tsunami according to some sources.

Second Tsunami via Vaporisation

After several billion barrels of oil and billions of cubic feet of gas have been released, the massive cavity beneath the ocean floor will begin to normalise, allowing freezing water to be forced naturally into the huge cavity where the oil and gas once were. The temperature in that cavity can be extremely hot at around 150 degrees celsius or more. The incoming water will be vaporised and turned into steam, creating an enormous force, which could actually lift the Gulf floor. According to computer models, a second massive tsunami wave might occur.

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