In the original version of The Blob, it's dropped off in (presumably) the Arctic to remain frozen and inert forever. But I think the movie ends with a question mark instead of "The End".
It's not just a movie! Global warming has doomed us all!
(But seriously, samples were taken, it appears to be biological in nature, and a real analysis will take about a week...)
It's probably just some large mass of something totally natural like an algal bloom. Not that such a thing is normal in that part of the world. Which then turns into a larger discussion of what the hell we are doing to the planet to make a phenomenon like this occur in a colder deep sea environment.
With all the chemical crap we dump into the seas I find it odd that the one thing environmentalists keep hammering on is global warming. Not that global warming couldn't become a serious problem, but the thing that really scares the crap out of me is that the continuous poisoning of the environment with chemicals and heavy metals might at some point screw up the food chain; say we killed off all the world's plankton, or conversely, cause one species of algae to grow in numbers to such an extent that it chokes off all other life in the ocean. That would suck really bad.
But it's still a mystery where the algae came from or why there's so much of it. Or what speficic algae it is. This is the Arctic, after all. The water is still pretty cold, and while there's lots of sunlight this time of year, that much algae congealed into a 12-mile long mass is unusual. This is not something that anyone has seen in these waters before.