Obama talks tough as spill spreads

[1]

United States President Barack Obama said he wanted to know “whose ass to kick” over the Gulf of Mexico oil spill, adding to the pressure on energy giant BP Plc as it sought to capture more of the leak from its gushing well.
“I don’t sit around just talking to experts because this is a college seminar. We talk to these folks because they potentially have the best answer so I know whose ass to kick,” Mr Obama said in an interview with NBC News’ Today to air on Tuesday.
They were the angriest words yet about the catastrophe from Mr Obama, who has been criticised for his response to the worst oil spill in US history. Mr Obama reiterated that all those affected should be adequately compensated.
In London, BP’s share price lost 3.6 per cent after Mr Obama’s remarks, reversing the previous day’s gains. The company’s shares are down more than a third from mid-April.
The stakes remain high for all involved — from Gulf Coast communities devastated by the disaster to Mr Obama and his domestic standing to BP and its battered reputation with the public and investors.
A Washington Post/ABC poll found that 69 per cent of Americans believe the government had done a “not so good” or “poor” job handling the spill. Just over 1,000 people were surveyed in the poll, conducted between June 3 and 6.
BP’s shares closed down slightly in London on Monday. It has lost about a third of its value since the crisis erupted in late April and it took another blow as Goldman Sachs downgraded its rating on BP to “neutral” from “buy.”
While a complete halt to the flow of oil is not expected until August at the earliest, BP reported an increase in the amount of oil it is capturing from the well in its latest containment effort.
Coast Guard Admiral Thad Allen, who leads the government’s relief effort, said London-based BP hoped to collect 20,000 barrels per day in its latest effort.
BP said it had collected 7,541 barrels of oil in the first 12 hours of Monday. If it collected the same amount the rest of the day, the total for Monday would be more than 15,000 barrels, about 35 per cent higher than the amount collected on Sunday.