President Barack Obama on Sunday visited Louisiana to assess the Gulf oil spill, saying the government is focused on a “fully-coordinated, relentless response” to stop the oil leak at the bottom of the sea.
Barack Obama says BP will foot the bill for $4.6bn of damages caused by the massive oil slick heading towards the wetlands of the Gulf Coast.
Over the next two days, the National Oceanic and Atmospheric Administration said, the spill appeared likely to move toward the Mississippi and Alabama coasts and engulf the Chandeleur Islands off Louisiana’s southeast tip.
“The oil that is still leaking from the well could seriously damage the economy and the environment of our Gulf states, and it could extend for a long time,” Obama said. “It could jeopardize the livelihoods of thousands of Americans who call this place home.”
Speaking at the staging area for the response effort, Obama added: “BP is responsible for this leak. BP will be paying the bill.”
The BP chief executive said the oil giant was “absolutely responsible” for cleaning up the oil spill caused by a ruptured offshore well in the Gulf of Mexico.
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That’s all well and good. And yes, they should pay for 100% of all damages and recovery efforts. However, they’ll just jack up gas prices for a while and recover it in no time.