Sorry, I'm not saying it is impossible to burn oil that floats on water. The lighter stuff might meet limited success, but the heavier stuff forms globs that tends to float beneath the water. It is this heavier stuff that ends up on the bottom, endangering the shrimp and other bottom dwellers, eventually washing up on shore with the tide. It is a slimmy mess.
Again, with the well still spilling such large volumes of crude, any effort will fall short of preventing the stuff from washing up on the shorelines, especially with heavy winds from the south. When storms roll in with five or six foot waves, those floating barricades will not contain the oil. I'm guessing, but photos from space indicate this spill has now covered fifty to sixty square miles. It is next to impossible to contain that large an area.
The Air Force is planning to drop some chemical agent on the surface in hopes of helping the situation. Not sure if the compound is an emulsifier, a surfactant, or a compound with active bacteria that supposedly would break down the oil. The latter material is proven to break down oil, but I can't imagine much success when dealing with such a large unconfined area. Maybe some chemists on here can explain.