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1.
(v.)
To attempt something that is way too ambitious, effectively impossible. An idea too broad in scope to accomplish.

Jargon often used by self-important corporate middle managers prone to bloating their speech with meaningless and unnecessary buzz-words.
"Herb, buddy, you're really "boiling the ocean" on this one. We can't manufacture and nationally distribute fifteen-thousand widgets in ten minutes."
by Wiggywoo February 20, 2008